Axuall, provider of clinical workforce intelligence, announced the investment of $20 million in Series B funding led by Noro-Moseley Partners, with additional investors Flare Capital Partners, Intermountain Ventures, University Hospitals Ventures, Hartford HealthCare, LocumTenens.com, Epsilon Health Investors, InHealth Ventures, AV8 Ventures, JumpStart Ventures, and M25 Ventures.
Axuall's investors and the organizations they represent comprise more than two dozen of the nation's leading healthcare organizations that recognize the imperative to improve clinical workforce efficiency amidst significant economic and staffing challenges.
Established and developed with leading healthcare systems since 2019, Axuall is a workforce intelligence company built on a national real-time practitioner data network that connects healthcare organizations to a vast array of data, providing insights for network planning, analytics, and reporting, while dramatically reducing onboarding and enrollment time via provider-enabled digital credentials.
“Timely clinician population data is key to optimizing a healthcare workforce, a factor that ranks among the most critical priorities for healthcare leaders,” says Ajay Kumar, M.D., EVP & Chief Clinical Officer, Hartford HealthCare. “An optimized workforce enables organizations to meet demand, improving patient outcomes and healthcare systems’ economics.”
Meanwhile, reducing friction within the people side of the supply chain is critical to addressing staffing shortages in the United States. Planning, recruiting, and placement have long been inefficient, time-consuming, and painful for clinicians and healthcare organizations. However, organizations that leverage data networks to streamline the process will be the choice of healthcare systems and clinicians in the coming years.
“With Axuall’s network, we are transforming the way we collect and validate credentials, allowing qualified clinicians to onboard at facilities swiftly and efficiently,” says Chris Franklin, President of LocumTenens.com. “Our commitment to providing access to quality patient care is at the core of our mission, and this investment represents a significant step forward in achieving that goal.”
In addition to growing its product, sales, and marketing teams, Axuall will use the capital raised to continue to develop its data partnerships across its network, which today consists of over 6,800 primary data sources. Funding will also be used to accelerate its API integration into the planning, recruiting, credentialing, enrollment, CRM, and electronic medical record systems that healthcare organizations use today.
“The growth we experienced since our inception tells us that being the connector to clinicians and their data is important to the ecosystem of our customers, vendors, and data partners,” says Charlie Lougheed, Co-founder and CEO of Axuall. “We are humbled and honored by the support from the healthcare community and forward-looking investors as we address this opportunity to improve access to quality care.”