Stepful Raises $55M Series C for Healthcare Workforce Training
Stepful, a training platform for healthcare workers, has raised $55 million in a Series C funding round led by Oak HC/FT, according to company announcements and media reports.
New investors include Foresite Capital, Hearst Ventures, and the Citi Impact Fund, according to a company blog post and a report in Fierce Healthcare. Existing investors SemperVirens, Y Combinator, Intermountain Health, and the ECMC Education Impact Fund also participated, several reports confirmed.
This latest round brings Stepful's total funding to $105 million, according to HLTH. The company, which was part of the Y Combinator S21 batch, offers what it calls a "school-as-a-service" for health systems, providing an AI-powered platform for employer-sponsored training.
Stepful specializes in training and placing professionals in roles such as medical assistants, pharmacy technicians, and coders, Clinical Terminal data shows. The company states its model provides debt-free pathways for workers to advance into higher-paying healthcare careers without taking on loans or leaving their jobs.
"Stepful is not just a training platform - we are the foundational infrastructure for the future of the healthcare workforce," CEO and co-founder Carl Madi said in a statement.
The company plans to use the new capital to expand its partnerships with hospitals, accelerate its AI capabilities, and launch advanced degree programs in nursing, respiratory therapy, and imaging, according to its announcement.
Since its founding in 2021, Stepful has graduated more than 32,000 healthcare workers, a report from NNR Markets said. The company works with 39 healthcare systems, including seven of the 10 largest in the U.S., according to a post from Y Combinator.