• Sun. May 26th, 2024

Float Health Secures $10 Million in Series A Funding to Expand Access to Care Services for Chronic Conditions

BySamantha Jones

Mar 28, 2024
Float Health, a startup providing home-based care staffing, secures $10 million in funding.

Float Health, a nurse staffing and pharmacy referral startup, has recently secured $10 million in a Series A funding round led by Canvas Ventures. The San Francisco-based company was founded in 2021 and operates in California and Arizona. Float’s business model involves contracting with registered nurses to provide care in patients’ homes by scheduling shifts.

The funding round, which included investment from Wave Capital, Y Combinator, Burst Capital, and Also Capital, brought Float’s total funds raised to $15 million. Angel investors such as co-founder of Instacart Max Mullen, COO of Yelp Jed Nachman, and former VP of marketing at Yelp Brian Osborn also participated in the funding. With a 97% staffing rate and 19,000 visits achieved, Float has been successful in expanding access to care services beyond traditional healthcare institutions.

Float Health is a nurse staffing and pharmacy referral startup that was founded in 2021 to address chronic illnesses that affect 133 million people in the United States. The company’s main focus is moving specialty medicine into the home as a way to improve patient outcomes and reduce nurse burnout. CEO Ryan Johnson highlighted this importance during the recent Series A funding round led by Canvas Ventures. The funding round brought Float’s total funds raised to $15 million with major healthcare companies such as CVS Health among its clients.

One of Float’s key partners is Walgreens Boots Alliance which facilitates staffing requests for specialty pharmacies. The company’s business model involves contracting with registered nurses to provide care in patients’ homes by scheduling shifts. With a high staffing rate of 97%, Float has been able to achieve over 19,000 visits for its patients who receive an average of 22 visits compared to the typical home infusion patient who receives only 13 visits per year. This data indicates the impact that Float Health is making in improving patient outcomes and increasing the availability of care services for those with chronic conditions.

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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