Norwest is a venture capital and growth equity investment firm that specializes in venture and growth equity companies. Since its inception, it has invested in more than 600 companies and partnered with over 140 active companies across our venture and growth equity portfolio. The firm invests in early to late-stage companies across a wide range of sectors with a focus on consumer, enterprise, and healthcare. It offers a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses.

Norwest Venture Partners

Jemison Investment Company, based in Alabama, seeks to finance privately-held and early-stage companies with high growth potential.

Jemison Investment Company

Krowten Capital is a unique partnership model that enables companies to create better customer experiences through innovation, investment, and hard work.

Krowten Capital

HighFive Healthcare

HighFive Healthcare is a practice management service provider that provides healthcare management for dentistry practices. The company's services include targeted marketing, online scheduling, electronic check-in to surveys, and other associated services, allowing dentists to operate their business more efficiently and provide patients with superior dental care.

HighFive healthcare is a leading specialty dental partnership organization focused on endodontics and oral surgery practices. The company was founded in 2018 and is headquartered in Birmingham, Alabama. HighFive experienced rapid growth in 2022, doubling its practice size through the acquisition of partnering practices and organic growth. From 2021 to 2022, the company's headcount increased by 142%, and its annual revenue increased by 150%.

HighFive Healthcare Secures $100 Million Investment Led by Norwest to Fuel Growth of Oral Surgery and Endodontic Practices

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Healthcare Resourcing Platforms

HighFive Healthcare secures financing to refinance debt

HighFive healthcare is a leading specialty dental partnership organization focused on endodontics and oral surgery practices. The company was founded in 2018 and is headquartered in Birmingham, Alabama. HighFive experienced rapid growth in 2022, doubling its practice size through the acquisition of partnering practices and organic growth. From 2021 to 2022, the company's headcount increased by 142%, and its annual revenue increased by 150%.
HighFive's partnership philosophy is centered around providing exceptional patient care. The company is majority owned by its partner doctors, who are elite oral surgeons and endodontists. HighFive's approach allows doctors to focus on patient care while the company handles the operational aspects of the practice. This collaborative model between surgeons, doctors, and management team members aims to elevate private practices through optimization and scaling.
HighFive's transparent and collaborative culture fosters an innovative approach to operations, quality, and buying power. The company's goal is to ensure every patient has an exceptional experience at each of its practices. In May 2023, HighFive secured a USD 100 million growth investment led by Norwest, a venture capital and growth equity investment firm, to fuel its continued expansion across the southeastern US and beyond.

SnapNurse (now rebranded as SnapCare) is an AI-enabled workforce marketplace that connects healthcare facilities directly with clinicians, including nurses, physicians, and other medical professionals. The company's cloud-based platform streamlines the staffing process, enabling facilities to rapidly source, credential, and onboard qualified healthcare workers within 24-48 hours. This technology-driven approach eliminates the need for traditional staffing agencies, providing significant cost savings of over 15% on core staffing services and potentially exceeding 20% with SnapCare's full suite of offerings.
SnapCare's platform offers a range of services, including permanent placement recruiting, internal float pool management, PRN (pro re nata) staffing, contract local/travel staffing, managed service provider solutions, and talent acquisition services. The company leverages AI and automation to optimize workforce deployment, enabling healthcare facilities to gain visibility into available talent, submit staffing requests, track orders, and access comprehensive workforce analytics.
In October 2023, SnapNurse rebranded as SnapCare, reflecting its commitment to expanding beyond nursing to support a broader range of healthcare clinicians and clients. The rebrand coincided with a nearly 300% increase in technology investments, furthering the development of advanced solutions like predictive staff scheduling optimizations through the strategic acquisition of Medecipher.
SnapCare's disruptive model has gained significant traction, with the company experiencing meteoric growth of 75,000% between March 2020 and March 2021. As of Q1 2021, SnapCare had deployed over 10,000 medical professionals, supported more than 1,000 healthcare facilities, and achieved USD 350 million in revenue through organic growth.

SnapNurse

CareRev is a technology company that has disrupted the healthcare staffing industry by providing a cloud-based platform to connect healthcare facilities with local, pre-qualified nurses, certified nursing assistants (CNAs), medical assistants (MAs), and technicians on demand. The platform enables healthcare organizations to post open shifts, which these professionals can claim instantly through the CareRev mobile app, eliminating the need for traditional staffing agencies.
CareRev's platform streamlines the process of sourcing temporary healthcare staff by automating credentialing, onboarding, and performance monitoring. The company ensures a high-quality talent pool by conducting rigorous vetting processes, including background checks, credential verification, and skill assessments. Facilities can provide real-time feedback on professionals' performance, mark them as "Favorites" for priority access, or flag them as "Do Not Return" if unsatisfied.
CareRev's business model allows healthcare facilities to access a flexible workforce that can rapidly scale up or down based on patient demand. This agile approach enables organizations to optimize staffing levels, reduce reliance on costly travel contracts, and lower overall labor costs. The platform also offers features like "Cascade," which allows organizations to float staff between facilities based on demand.
In addition to serving hospitals and health systems, CareRev supports outpatient centers, skilled nursing facilities, and ambulatory surgery centers across over 32 major metropolitan areas nationwide. As of October 2022, the company had partnerships with over 70 hospitals and health systems and over 540 outpatient centers and skilled nursing facilities. Its network comprises more than 22,000 clinical professionals.

CareRev

Clipboard Health is a healthcare staffing platform that provides an app-based marketplace for matching nurses, nursing assistants, and other healthcare professionals with open shifts at nearby healthcare facilities. The company's app allows healthcare workers to find and book available shifts conveniently, offering flexibility and control over their schedules. For healthcare facilities, the platform addresses staffing challenges by enabling them to fill open shifts as needed, accessing a wider pool of talent.
Clipboard Health's model has seen significant growth, with its gross revenue increasing by a factor of 25 in the 18 months leading up to April 2022. As of that period, the platform served tens of thousands of healthcare professionals and over a thousand facilities across more than 30 US cities, including major metropolitan areas like Los Angeles, Philadelphia, Chicago, and New York. The company aimed to expand its presence to many more cities by the end of 2022.
In February 2022, Clipboard Health secured a USD 30 million Series C funding round led by Sequoia Capital, valuing the company at USD 1.3 billion. This followed a USD 50 million Series B round in 2021 led by IVP. The total funding raised by the company exceeded USD 90 million. These investments were intended to support the company's aggressive hiring plans, including doubling the size of its engineering team and expanding its sales and marketing organizations.

Clipboard Health

Favorite healthcare Staffing is a leading provider of healthcare staffing solutions in the US. The company specializes in offering a comprehensive range of staffing options, including travel nursing, per diem, allied health, non-clinical, and permanent placement opportunities. Favorite healthcare Staffing's services cater to healthcare facilities across the nation, enabling them to access qualified and dependable healthcare professionals to meet their staffing needs.
The company's business model revolves around connecting skilled healthcare talent with employment opportunities at various healthcare providers, such as hospitals, health systems, medical practices, clinics, and other healthcare facilities. Favorite healthcare Staffing prides itself on setting industry standards for quality, service, and integrity within the healthcare staffing sector.
In June 2023, Staffing Industry Analysts, a renowned staffing industry research firm, ranked Favorite healthcare Staffing as the 10th Largest US healthcare Staffing Firm based on its 2022 revenue. Additionally, the company secured impressive positions on other Staffing Industry Analysts lists, including the 8th Largest US Travel Nurse Staffing Firm, the 13th Largest US Per Diem Nurse Staffing Firm, the 13th Largest US Allied healthcare Staffing Firm, and the 17th Fastest-Growing US Staffing Firm.
Key customers and partnerships
Favorite healthcare Staffing has established strong relationships with healthcare facilities nationwide, catering to their diverse staffing needs across various specialties and areas of expertise. The company's client base encompasses top healthcare institutions, medical practices, and healthcare organizations seeking skilled professionals for temporary, contract, or permanent positions.
To streamline the application process for healthcare professionals seeking employment opportunities, Favorite healthcare Staffing has introduced a virtual assistant called "Frankie." This innovative tool guides applicants through the application process, ensuring a hassle-free experience and enabling them to create their profiles efficiently.

Favorite Healthcare Staffing

Aya healthcare is the largest healthcare staffing company in the US. It leverages data-driven technology and digital engagement to operate a managed marketplace that hosts the largest pool of active job seekers for healthcare professionals. Aya's proprietary algorithms enable personalized touchpoints to drive engagement and add transparency, efficiency, and accountability to healthcare systems.
The company's core offerings include travel nursing, allied health staffing, permanent staff hiring, interim leadership, locum tenens staffing, and staffing for non-clinical professionals. In addition to staffing services, Aya provides vendor management, float pool technology, provider recruitment services, and predictive analytics solutions to healthcare organizations.
In November 2023, Aya healthcare acquired Winnow AI, a data science-driven platform that uses artificial intelligence and business intelligence to identify passive physician candidates likely to relocate. The acquisition enables Aya to complement its DocCafe platform, which focuses on active physician job seekers, and offer healthcare organizations comprehensive solutions for both active and passive physician recruitment.
Aya healthcare has established a track record of promoting a positive, welcoming workplace culture for its over 6,000 corporate employees. In September 2022, the company was named to Fortune's list of Best Workplaces in healthcare for the third consecutive year, with 90% of surveyed employees affirming it as a great place to work.

Aya Health

Platforms that connect healthcare organizations with healthcare professionals, such as doctors, nurses, and other clinicians, to fill vacant spots for immediate shifts or temporary assignments

Companies that offer digital platforms automating the procurement process and inventory management of healthcare organizations, including hospitals, clinics, and skilled nursing facilities

Companies that offer integrated workflow solutions for healthcare providers (especially independent practitioners), including online booking, medical billing, and patient management

Companies that offer pharmacy management platforms catering to pharmacies (especially independent pharmacies) to efficiently manage their daily operations. The platforms leverage technologies like AI/ML and are cloud-based

Companies that offer a B2B service to healthcare organizations to train and educate healthcare professionals in specific roles by using various digital means

Offers B2B SaaS platforms that serve healthcare providers and independent practitioners to streamline their businesses

The products/platforms offered by the companies utilize AI/ML in enhancing their offering

All healthcare resourcing solutions are offered via digital platforms that leverage AI/ML or are cloud-based

HighFive Healthcare

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