Today, we announced an oversubscribed $12.1M Series A investment led by Cercano Management. We could not be more excited to begin this next stage of our journey.
I founded Kevala with Noah Kusz, Patrick Lawler, and Jake Gordon on the premise that healthcare operators will have to reinvent their workforce management strategies in the face of a devastating staffing crisis. A significant labor shortage coupled with a more empowered and demanding workforce renders current approaches inefficient, ineffective, and likely obsolete.
Healthcare operators rely upon fully staffed and engaged care teams to meet their business and healthcare objectives. Sadly, fewer and fewer shifts are filled to the level required to meet those needs. Left with only two choices – refuse new admissions and struggle financially, or overwork an understaffed team and suffer from high turnover - the industry is caught between a rock and a hard place. The world needs its healthcare system to thrive, but we are on the wrong track if we can’t keep shifts full, care teams happy and engaged, and costs under control. That’s why we built Kevala.
Kevala is delivering a modern scheduling and staffing platform that empowers operators to build, credential, and deploy a multi-faceted, flexible workforce. We’ve heard time and time again that operators can’t rely on only internal, on-premise staff to keep shifts full any longer. There is an increasing dependence on supplemental staff from third party agencies as well as staff “floated” from other locations. The orchestration of this workforce requires new labor management strategies and better supporting technology.
Our team continues to bring together the best minds from HR tech, healthcare tech, and SaaS. We founded Kevala in 2020 with the mission to empower care teams to deliver their best care. Over the past year, our team has more than quadrupled in size and revenue has grown much faster than that. We have come far, quickly, and are both excited and determined to bring our solutions to healthcare operators, globally.
At a significant moment like this for the business, I’d like to finish with a few thank you's.
To the front-line care teams who inspire us. We’ve always believed that you would benefit from technology that frees you up to do your best work. We are grateful that you’ve embraced us in our early days and we are as energized as ever to put you first in everything we do. The candid feedback, the support and kind words, the willingness to partner - thank you.
Next, thank you to YB Choi at Cercano Management for being the first to step up and lead this round. Your enthusiasm for the opportunity and confidence in our team is motivating. We’re lucky to have you join our Board of Directors.
To our partners at Pioneer Square Labs - Greg Gottesman, Geoff Entress, TA McAnn, Ben Gilbert, Ben Rush, Kinsey Gross, Ansel Santosa, Adam Loving, Mariia Derevianko, Dani Johnson, and everyone else - thank you. Greg and I first met over 20 years ago when he was a partner at Madrona Venture Group and I was a newly minted MBA. His advice informed my path to this day, and it’s great to finally build a business together.
Lastly, thank you to the Kevala team that is making this dream come true. You are not only talented business-builders, but you are exceptional human beings and are building a culture that will allow us to achieve our greatest potential.
Todd– CEO & Co-founder, Kevala