There is an employment crisis in the healthcare industry. According to a recent Morning Consult survey, nearly 20% of medical staff have left their professions due to the epidemic. Before the emergence of COVID-19, some studies estimated the cost of burnout in the healthcare system to be around $4.6 billion per year, a figure that has undoubtedly risen. In order to solve the problems, businesses have increased benefits and hired more people. However, they still confront challenges, such as lengthy onboarding and employee verification.
Adam Lewis promotes Apploi, the platform he founded eight years ago, as the answer. Apploi, which was originally aimed at hiring managers and job seekers across a variety of industries, has since narrowed its focus to healthcare in order to stand out in a sea of HR startups. Investors have rewarded the move with a fresh round of funding. Apploi announced today that it has raised $25 million in a Series B round headed by m] x [v Capital, with participation from Defy and Underscore, bringing its total funding to $38 million.
Shifting the focus to healthcare, Lewis described Apploi to TechCrunch in 2015 as a method for service industry professionals to “put their best foot forward” by sharing videos of their personality and talents. The company provided mobile, online, and kiosk-based apps that allowed individuals to submit numerous applications while also providing businesses with “the data they need to make informed decisions.” Apploi is now clearly more employer-focused, having invested in a suite of healthcare-specific hiring and onboarding tools.
Apploi, for example, may help with the gathering, monitoring, and updating of employee credentials, as well as providing reminders to keep nurses’ and caregivers’ licenses current. Built-in communications (for email and SMS) and interview scheduling ostensibly simplify the hiring process, while digital employee records integration helps recruiters reconnect with former applicants. “Right away, we recognized there were some really specific issues in healthcare – an industry with a lot of demand.” As a result, in 2018, the company decided to focus solely on the healthcare industry, assisting companies in hiring and keeping the greatest individuals to give the best care to the most vulnerable populations,” Lewis told TechCrunch via email.
“The company provides an end-to-end software-as-a-service platform to assist healthcare organizations in recruiting, onboarding, credentialing, and managing high-volume recruits, primarily nurses and nursing assistants,” according to the company. Apploi also keeps track of job post-conversion rates, indicating where candidates are coming from, and can measure job post-performance across social media platforms as well as follow candidates throughout the recruiting process. In addition, before issuing an offer, Apploi can start screenings and assist candidates through stages such as license verification, background checks, and other administrative requirements.
From the outside looking in, Apploi’s tools appear to be quite comprehensive. In addition, the health tech business has a lot of venture funding, with Silicon Valley Bank claiming that health tech startups raised $39.7 billion in 2021. However, Apploi’s future success will hinge on its ability to separate itself from competitors such as Lantum, Vivian Health (previously NurseFly), and Incredible Health. Lewis claims that Apploi is already doing so, citing its acquisition of healthcare credentialing provider Healthgig in 2020 as an example.
Apploi, which employs over 100 employees and has 6,000 users, claims that sales increased by 130 percent in 2021. “The increased investment will enable us to build new healthcare-specific functionality across our whole portfolio of products to ensure a personalised and superior end-to-end experience,” Lewis said, “as well as expanding our sales and marketing responsibilities across the country… Customers love our product, with a monthly retention rate of 99.6%.”