17 March 2023
Medwing, a European startup building a recruitment marketplace for healthcare workers, has raised €44 million ($47 million) in a Series C round of funding, reports TechCrunch. Founded out of Berlin, Germany in 2017, Medwing targets the healthcare industry in Germany and the UK with a platform designed to match hospitals and clinics with nurses and elderly caregivers, though it also caters to pharmacists, midwives, doctors, and similar professionals. The platform is currently available in Germany and the UK., where it claims approximately 5,500 registered medical employers and 500,000 healthcare professionals, who can access an entirely digital workflow spanning job search, contracts, signatures, and timesheets.
The company said that it’s eyeing expansion to further European markets down the line, but in the nearer term it expects to reach profitability by the end of this year based purely on its existing presence in Germany and the UK.
Medwing’s Series C round included contributions from Northzone, Cathay Innovation, Cherry Ventures, Quadrille Capital, Atlantic Labs, Hambro Perks and SVB Capital, the VC entity of Silicon Valley Bank. Earlier this week, the US government took emergency measures to shore up the US banking system after Silicon Valley Bank and Signature Bank collapsed. SVB Capital is not directly impacted by the collapsed bank, though their shared SVB Financial holding company parent is apparently in the process of selling its assets, including SVB Capital. TechCrunch reported that none of this impacts its cash outlay to Medwing though.
Talenthouse AG, a talent platform for creative workers, announced progress with its Series B fundraising, having received commitments in the amount of CHF 25 million (€25.3 million).
The group’s board announced it has received cash commitments in the amount of CHF 16 million (€16.2 million) and commitments of shareholder loan conversions in the amount of CHF 9 million (€9.1 million) for new Series B shares, supporting previously announced capital restructuring measures.
The implementation of the capital restructuring measures requires another EGM (Extraordinary General Meeting), which the Board will call together soon. The company expects receipt of the new money from the fundraising round to begin in the coming days.
Last month, Talenthouse announced a strategic review of its business and the departure of two senior executives.
“The receipt of the funding commitments confirms the support of investors for Talenthouse’s broad strategy while facilitating the company’s previously stated desire to review the platform business of the group,” the board stated.