SHIFTKEY, TECHNOLOGY COMPANY TRANSFORMING FUTURE OF WORK, CLOSES CAPITAL RAISE
DALLAS, Texas, January 12, 2023 —ShiftKey, a Dallas-based technology company transforming the future of work by empowering licensed professionals to connect directly with healthcare facilities with open workforce needs, announced today that it has closed on a funding round sponsored by majority investor Lorient Capital, valuing the company in excess of $2 billion.
Lorient’s investment was completed through a continuation vehicle that was led by the Ares Management Secondaries funds and Pantheon. Additional investors participating along with Lorient, Ares, and Pantheon include Clearlake Capital and Health Velocity Capital.
“ShiftKey is changing the future of work by empowering licensed professionals to have the freedom and flexibility to choose when, where and how they want to work,” said David Berman, managing partner of Lorient Capital. “We are excited to realign our investor base around ShiftKey’s long-term strategy to become the preeminent technology platform powering the future of licensed work.”
“Nurses continue to choose to work on their own terms,” said Tom Ellis, founder and CEO of ShiftKey. “Our vision is to empower nurses and other licensed professionals through the combination of our core marketplace product along with additional technology and tools such as scheduling, payments, education, and credentialing. We are appreciative for the support of our investors who share in this objective.”
ShiftKey’s software now enables work for hundreds of thousands of licensed professionals across over 10,000 healthcare facilities nationwide.
Goldman Sachs and Aviditi Advisors acted as advisors and placement agents to Lorient Capital. McDermott Will & Emery and Gibson Dunn were legal advisors.
About ShiftKey
ShiftKey is a platform that is disrupting the way healthcare facilities find licensed and certified professionals to fill available shifts. Leveraging marketplace dynamics and deep industry knowledge, the company is playing a vital role in mitigating America’s healthcare staffing shortages, enabling direct connections between facilities and healthcare professionals. By offering the opportunity to work as much or as little as they choose and putting the power back into the hands of healthcare workers, ShiftKey is bringing more licensed professionals back into the workforce, a solution that is solving a major crisis in healthcare. For more information, visit www.ShiftKey.com.
About Lorient Capital
Lorient Capital is a private investment firm that targets equity investments in healthcare services and technology companies. Leveraging its experience as both investors and healthcare operators, Lorient works with founders and management teams to drive growth, optimize operations, and improve healthcare outcomes. The firm invests in cash flow positive businesses at an inflection point that requires additional capital and expertise to take the business through the next phase of growth.
About Clearlake Capital
Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK, and Dublin, Ireland. More information is available at www.clearlake.com and on Twitter @Clearlake.
