Today, we’re excited to announce that we’ve raised a $7.5M seed round, led by Reach Capital with participation from Y Combinator, EO Ventures and Company Ventures. Our new funding will help Stepful expand nationally and introduce new training programs to meet the growing demand for healthcare workers.
The healthcare industry is facing an unprecedented workforce crisis. Some job openings are remaining unfilled for up to 9 months, and staff turnover is reaching an all-time high at 20%. We’re addressing this issue head-on by providing affordable and accelerated vocational education that prepares graduates for entry-level healthcare jobs in as little as 4 months.
To address this, Stepful has developed an online learning platform that leverages proprietary content to deliver cost-effective and time-efficient training. In some states, the cost of our medical assistant has been reduced tenfold and the duration has been shortened from 2 years to 4 months, making it accessible to more people, breaking down barriers to quality employment, and empowering healthcare employers to access a new source of talent by providing accelerated training programs to people from underserved communities.
With over 2 million new healthcare jobs expected to be created in the next decade, our platform is addressing the critical workforce shortage by providing training and job placement support to those who would otherwise be unable to enter the industry. To date, we’ve graduated over 1,000 students, with 80% of them securing jobs within two months and reporting an average 25% increase in income. At Stepful, we are committed to making a lasting impact on the healthcare workforce.