Dr. Iman Abuzeid, a trailblazing African-American computer scientist and CEO of Incredible Health, has led the company to unicorn status with an impressive $80 million Series B funding round.
Incredible Health, founded in 2017 by Dr. Abuzeid and Rome Portlock, aims to address the critical shortage of nurses in the American healthcare system through its innovative platform.
Amid the ongoing Covid-19 pandemic, hospitals across the nation are grappling with nurse shortages, with over one-third reporting vacancy rates exceeding 10%.
In response to this challenge, Incredible Health serves as a digital platform akin to a souped-up LinkedIn for nurses, connecting them with job opportunities at top-ranked hospital systems like Cedars-Sinai and Baylor Scott & White.
Using a proprietary algorithm, Incredible Health matches the best candidates to open roles, streamlining the hiring process and addressing the urgent need for skilled healthcare professionals.
The $80 million Series B funding round has propelled Incredible Health’s valuation to $1.65 billion, elevating Dr. Abuzeid into rarefied air as one of the few Black female founders to lead a billion-dollar company.
This milestone comes less than a year after Incredible Health was named to Forbes’ 2021 Next Billion-Dollar Startups list, highlighting its profitability and innovative approach to healthcare recruitment.
“If we definitively want to be the market leaders in healthcare labor, we do need to expand,” Abuzeid told Forbes in 2022. “That’s what some of this funding is about. We do need to continue to scale from 25 states to the rest of the country, [and] we need to add more roles beyond nursing. Because doctors and physical therapists and pharmacists can benefit from this.”
Despite challenges faced by other digital health companies amid declines in venture capital and revenues, Incredible Health has experienced exponential growth.
The company’s revenue surged five-fold in 2021, reaching an estimated $25 million, and it remains cash-flow positive with a workforce expansion to 180 employees.
The Series B funding round, led by Base 10 Partners as part of its Advancement Initiative, reflects Incredible Health’s commitment to expanding economic opportunities and diversity in the workforce.
Notably, the company focuses on filling permanent positions rather than temporary roles, contributing to nurse salary increases and cost savings for healthcare institutions.
In addition to financial backing, Incredible Health has garnered support from investors such as Andreessen Horowitz, Obvious Ventures, and health system Kaiser Permanente.
NBA star Andre Iguodala and social media influencers Charli and Dixie D’Amelio have also joined as investors, leveraging their platforms to further engage with potential customers.
Dr. Abuzeid’s journey from a rocket scientist to CEO exemplifies perseverance and leadership in the face of adversity. As a female CEO and immigrant, she serves as a role model for underrepresented groups in entrepreneurship, challenging biases and driving value in business.
Dr. Abuzeid remains focused on her mission to level the hiring playing field and empower healthcare professionals.
Her achievements lend credence to the importance of diversity and inclusion in driving innovation and success in the business world.
