Dropstat, a Los Angeles, CA-based AI-powered workforce automation platform helping healthcare organizations combat clinical staffing shortages, closed a $5.5 million seed funding.
The round was led by Panoramic Ventures, an Atlanta-based firm that invests in category-leading technology companies.
The fund will be used to expand its services across the US, helping more healthcare facilities better manage staffing needs.
Dropstat offers scalable solutions that enable healthcare organizations to reclaim workforce independence.
The company's mobile and cloud-based systems are designed to predict staffing needs months in advance, autonomously fill shift gaps using shared staff across departments and facilities, and streamline processes, providing more control and optimizing costs.
"The growing labor shortage negatively impacts patient outcomes and increases wait times and the cost of care, all of which threaten to create a public health crisis," states Sara Well, CEO of Dropstat. "Healthcare facilities need to be empowered to build stronger teams and decrease their reliance on high-priced outsourced labor."
With the seed funding, Dropstat will continue to rapidly expand its services to healthcare clients across more than 50 markets in the US.
Company: Dropstat, Inc.
Round: Seed Round
Funding Month: May 2023
Lead Investors: Panoramic Ventures
Company Website: https://dropstat.com/
Software Category: AI-powered Workforce Automation Platform
About the Company: Dropstat is an AI-powered workforce automation platform that helps healthcare organizations combat clinical staffing shortages. With its technology, healthcare organizations can predict staffing needs, visualize and access staff across multiple systems, fill shift gaps with cost and safety optimization, and build internal float teams and agencies. Open APIs integrate with existing travel and shift marketplaces, while cost management technology ensures in-house resources are exhausted before utilizing higher-cost labor. Dropstat's upgraded business intelligence dashboards, churn prediction technology, and proprietary staffing feedback loops help healthcare organizations build stronger teams, fill more shifts, and spend less.