“HCAP has been a true partner that has provided helpful advice and guidance while letting the FleetNurse team run the company as they know best. I am excited about our future growth and appreciate HCAP’s willingness to continue to be a resource to help FleetNurse achieve its goals.”
– Israel Angeles
Founder & CEO, FleetNurse
Value Creation Highlights
When asked to report on how HCAP has contributed to value creation, FleetNurse founder and CEO Israel Angeles noted the following initiatives and outcomes:
* FleetNurse Contributes to Solutions by (1) improving staffing levels at healthcare facilities so that better patient care is provided and patients experience improved health outcomes (SDG 3.8), and (2) partnering with HCAP on the Gainful Jobs Approach™ to strengthen workplace practices so that workers experience improved job quality (SDG 8.5).
**FleetNurse Benefits Stakeholders by (1) employing women in leadership roles and supporting nurses (majority women) in selecting shifts that work for them (SDG 5.5), (2) helping nurses and clinicians secure shifts to earn more income (SDG 10.1), and 3) supporting nurses (majority people of color) in finding work on their own terms (SDG 10.2).
FleetNurse is a healthcare technology company that connects health systems to quality healthcare providers on-demand, 24/7, helping them meet their staffing needs.
As the U.S. population ages, there is a growing need for nurses and clinicians. Approximately 190,000 registered nurse openings are projected each year over the next decade14. In addition, the nursing profession has seen a significant decline in job satisfaction since 2018 that has only worsened due to overwork and the challenges placed on healthcare workers during the COVID-19 pandemic. As a result, health systems are increasingly stressed trying to maintain adequate staffing levels to safely care for patients.
FleetNurse was founded in 2019 based on the belief that technology could help address the growing staffing challenges facing health systems while empowering nurses with greater flexibility and control over their schedules. During the pandemic, the company saw dramatic growth as health systems struggled to staff their facilities and as many nurses and clinicians sought work after being furloughed due to the cancellation of elective medical procedures and non-critical surgeries.
In April 2022, HCAP provided mezzanine debt and private equity to support the company’s growth initiatives and hiring needs. The financing also helped FleetNurse launch Cascade FN, a SaaS-based shift management system that supports health systems by optimizing their internal float pools of nurses and accessing additional support through partners such as FleetNurse.
HCAP V CAse Study: FleetNurse
