IAC’s Vivian Well being Broadcasts $60 Million Funding Led by Thoma Bravo

Fenika Bench
  • Funding to fast-track scalability and assist inorganic development
  • Funding consists of investments from IAC and Collaborative Fund
  • In 5 years, Vivian Well being has turn into a market main platform for healthcare jobs, facilitating 15% of journey nursing placements within the U.S., representing $1.5B in annualized labor spend
  • Over 700,000 of America’s healthcare clinicians are registered to make use of Vivian’s platform to search out work

SAN FRANCISCO, April 26, 2022 /PRNewswire/ — Vivian Well being, an IAC (NASDAQ: IAC) firm and a number one healthcare jobs market serving healthcare professionals first, as we speak introduced a $60 million main and secondary fairness funding led by Thoma Bravo, a number one software program funding agency, with participation from IAC and Collaborative Fund. The brand new capital can be used to speed up Vivian’s fast development and additional its scale amongst healthcare clinicians and employers, in addition to to assist future M&A initiatives.

As the primary jobs market constructed for healthcare professionals, Vivian provides employers a quick and efficient technique to fill quite a lot of healthcare jobs, together with everlasting roles, per-diem shifts, native contracts, and journey positions. Vivian has seen vital adoption amongst healthcare professionals, with over 700,000 registered clinicians utilizing the job market. A lot of this development has come via natural channels and word-of-mouth. The U.S. healthcare trade is on observe to be greater than three million employees brief by 2026, which is why over 145 healthcare employers, together with staffing companies and well being techniques, are partnering with Vivian to fill their open healthcare jobs as much as 50% sooner than with different options, lowering prices by as much as 80%.

“Vivian is the healthcare trade’s first ever candidate-centric jobs platform constructed with clinicians’ wants in thoughts—providing the widest number of job alternatives and options like Vivian’s Common Profile, transparency throughout pay and advantages, employer opinions, and a one-click apply expertise—and because of this we’re in a position to drive natural engagement with clinicians at an unmatched scale,” stated Vivian Well being co-founder and CEO Parth Bhakta. “This has been key to our development and our means to assist employers fill open positions rapidly and cheaply.”

Continued Mr. Bhakta, “We’re excited so as to add Thoma Bravo as a shareholder and to profit from the group’s world-class software program experience as we develop our resolution and proceed to scale. We’re additionally thrilled to work with mission-aligned buyers via Collaborative Fund, and we’ll proceed to profit from the unparalleled observe document and operational experience that comes with being a part of IAC.”

Since being acquired by IAC in 2019, Vivian has grown income by greater than 45x and has facilitated greater than 3 million job functions so far. Vivian and IAC’s momentary labor platform Bluecrew, which has stuffed a million job shifts, have each accelerated development 12 months over 12 months.

“Momentary labor and shiftwork within the U.S. remains to be principally a guide course of, ripe for disruption, and IAC is investing within the daring concepts and impressive leaders prepared to remodel how Individuals discover high quality, sustainable work,” stated Mark Stein, EVP and Chief Technique Officer, IAC. “Parth and his group at Vivian are constructing a subsequent era jobs platform that clinicians love, and healthcare employers depend upon to fill open positions—that is Vivian’s second.”

“Vivian’s resolution has seen unimaginable natural development and traction with each clinicians and employers in a short while, which speaks to the worth of its data-driven strategy as a differentiator on this market,” stated Christine Kang, a Principal at Thoma Bravo, who will be part of the Vivian Well being board of administrators. “Vivian is redefining the way in which healthcare professionals discover work at a vital juncture for America’s healthcare system, and we’re thrilled to accomplice with Parth and his group to assist speed up this subsequent part of development.”

“A whole bunch of hundreds of healthcare professionals throughout the nation have come to belief Vivian because the place to construct their networks and advance their careers,” stated Craig Shapiro, founding father of Collaborative Fund. “As an increasing number of employees depend on them, they’re poised to assist the healthcare trade itself by making hiring faster, less expensive, and finally by closing systemic labor shortages.”

About Vivian Well being

Vivian Well being, an IAC firm (NASDAQ: IAC), is the main healthcare jobs market that serves healthcare professionals first. Vivian Well being empowers a broad vary of healthcare professionals to search out jobs they love throughout many varieties of healthcare work, together with everlasting roles, per-diem shifts, native contracts, and journey positions. Constructed on clever matching, clear info, and the widest number of job alternatives, Vivian Well being provides healthcare job seekers an unmatched resolution for locating their subsequent position. For employers, Vivian Well being helps fill roles 50% sooner than conventional recruiting practices and at a fraction of the price, saving them tens of millions of {dollars}, and serving to alleviate labor shortages in healthcare. Vivian Well being is headquartered in San Francisco with places of work in Denver. To study extra about Vivian Well being, go to www.vivian.com

About IAC

IAC (NASDAQ: IAC) builds corporations.  We’re guided by curiosity, a questioning of the established order, and a need to invent or purchase new merchandise and types.  From the only seed that began as IAC over 20 years in the past have emerged 11 public corporations and generations of remarkable leaders.  We are going to all the time evolve, however our fundamental rules of financially disciplined opportunism won’t ever change.  IAC is as we speak comprised of category-leading companies together with Angi Inc. (NASDAQ: ANGI), Dotdash Meredith and Care.com, amongst many others starting from early stage to established companies.  IAC is headquartered in New York Metropolis with enterprise places worldwide.

About Thoma Bravo

Thoma Bravo is among the largest non-public fairness corporations on the planet, with greater than $103 billion in property below administration as of December 31, 2021. The agency invests in growth-oriented, revolutionary corporations working within the software program and expertise sectors. Leveraging the agency’s deep sector experience and confirmed strategic and operational capabilities, Thoma Bravo collaborates with its portfolio corporations to implement working finest practices, drive development initiatives and make accretive acquisitions supposed to speed up income and earnings. Over the previous 20 years, the agency has acquired or invested in additional than 375 corporations representing over $190 billion in enterprise worth. The agency has places of work in Chicago, Miami and San Francisco. For extra info, go to www.thomabravo.com.

Protected Harbor Assertion Below the Personal Securities Litigation Reform Act of 1995

This press launch might comprise “forward-looking statements” throughout the that means of the Federal Personal Securities Litigation Reform Act of 1995. Ahead-looking statements might embody, however are usually not restricted to, statements regarding IAC’s and Vivian’s anticipated monetary efficiency, goals, plans and methods, and all statements (apart from statements of historic information) that handle actions, occasions or developments that IAC and Vivian intend, count on, undertaking, imagine or anticipate will or might happen sooner or later. These statements are sometimes characterised by terminology resembling “imagine,” “might,” “anticipate,” “ought to,” “intend,” “plan,” “will,” “count on,” “estimate,” “undertaking,” “positioned,” “technique” and comparable expressions, and are based mostly on assumptions and assessments made by IAC’s and Vivian’s administration in gentle of their expertise and their notion of historic developments, present circumstances, anticipated future developments, and different components they imagine to be applicable. IAC and Vivian undertake no responsibility to replace or revise any such statements, whether or not on account of new info, future occasions or in any other case. Ahead-looking statements are usually not ensures of future efficiency. Whether or not precise outcomes will conform to expectations and predictions is topic to recognized and unknown dangers and uncertainties, together with: dangers and uncertainties mentioned in stories that IAC has filed with the SEC; adjustments within the healthcare jobs market; the flexibility to keep up and develop relationships with high quality clinicians, healthcare employers and staffing companies; the flexibility to search out appropriate acquisition candidates; and different circumstances past IAC’s and Vivian’s management. You shouldn’t place undue reliance on these forward-looking statements. For extra particulars on components that would have an effect on these expectations, please see IAC’s filings with the SEC.

Contact Information

IAC Investor Relations
Mark Schneider
(212) 314-7400
[email protected]

IAC Communications
Valerie Combs     
(212) 314-7251
[email protected]

Thoma Bravo Communications
Megan Frank
(212) 731-4778
[email protected]

or

Finsbury Glover Hering
Abigail Farr
(646) 957-2067
[email protected]

SOURCE Vivian Well being

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