Relode Completes Financing Round Led by Frist Cressey Ventures
Crowdsourced hiring platform for healthcare to aggressively accelerate referral agent acquisition, sales development, marketing, and execution of product roadmap.
NASHVILLE, Tennessee — Relode.com, the crowdsourced hiring platform for healthcare has completed a $750,000 round of financing. Frist Cressey Ventures (FCV) led the investment round with participation from existing and new investors. The investment brings Relode’s total funding since launch to $1.725 million and will help the company aggressively expand its marketing strategy and sales efforts, as well as broaden and accelerate product development. Chris Booker, Partner from FCV Ventures, and Peter Magas, Managing Director from Beecken Petty O’Keefe, have joined the advisory board.
The round financing builds on an exceptional year for Relode, which saw a rapidly expanding list of new hospital clients, key internal hires, and strong momentum in referral agent acquisition. Relode’s client roster grew to over 400 clients–including high-growth healthcare companies and some of the nation’s leading hospital systems. It has seen month over month growth of 500% in agent sign ups and currently maintains over 240 healthcare jobs representing $1.3 million in referral rewards available to agents.
“Relode is bringing innovation to an industry that has seen little modernization of its business model over the past 50 years,” said Chris Booker, Partner with Frist Cressey Ventures. “As an online recruiting marketplace made up of everyday people powered by technology, this model allows healthcare organizations seeking top talent to significantly reduce cost and time, while shifting much-needed resources to critical HR functions and most importantly, to patient care.”
“The most powerful innovations in healthcare services can sometimes come from modest, targeted changes in processes and technology. Relode has hit a nerve within major healthcare company executives that spend over $20 billion annually on healthcare recruitment services. We are excited to partner with Relode to help accelerate the growth of this simple yet disruptive approach that seamlessly connects employers and healthcare professionals.” – Senator Frist, Partner with Frist Cressey Ventures
Key features and benefits of the Relode hiring platform for healthcare:
- Clients typically save 50% over traditional staffing firms
- Anyone can discover jobs and refer friends using Relode’s simple platform
- Referral agents receive customized, geo-targeted alerts for crowdsourcing candidates
- Relode account managers qualify and coordinate all candidates to ensure a great client experience
- Clients utilize a simple dashboard to track job metrics, view all candidates, and communicate with Relode account managers.
“The recruiting industry is stuck in the stone ages and we’re just scratching the surface of what Relode can accomplish when it’s operating at scale with many jobs and referral agents—all focused on the healthcare industry.” said Matt Tant, Chief Executive Officer of Relode. “Having the additional financial support, extensive relationships, and experience of healthcare industry titans like Frist Cressey Ventures and the partners from these leading healthcare firms will provide invaluable knowledge and experience to help us achieve our vision to innovate hiring in healthcare.”
Relode is a crowdsourced marketplace of clinical professionals who refer their friends and helps healthcare companies find clinical talent at half the traditional cost. Our customers save time and money, and as a result can provide better patient care.
About Frist Cressey Ventures
Frist Cressey Ventures, LLC is focused on accelerating the growth of high potential healthcare enterprises through value-added partnerships. We are pursuing technology and service businesses with viable solution that improve quality of care, system integration, patient outcomes, and population health and wellbeing. We join like-minded entrepreneurs who share similar core values in their pursuit to improve healthcare.