Nomad Health Revenue, Valuation, Funding & Investors
Nomad Health is valued at $260M as of September 2021, a 37.1x multiple on its last reported $7M revenue.
Last Nomad Health valuation
$260M
Series D · Sep 2021
Last Nomad Health funding round
$34M
Undisclosed stage · Dec 2025
Nomad Health revenue
$7M
Series D · Sep 2021
Key investors in Nomad Health
RRE Ventures
.406 Ventures
Polaris Partners
Icon Ventures
First Round Capital
Adams Street Partners
About Nomad Health
Nomad Health is a New York-headquartered online marketplace that matches nurses, physicians, and allied health professionals with per diem and travel staffing jobs at hospitals nationwide. The platform lists shifts by specialty, facility, pay rate, and location, handling credentialing, payments, and compliance. It serves over 4,000 healthcare facilities including Mount Sinai and Cleveland Clinic, streamlining recruitment amid shortages. Nomad Health expanded to physician staffing in 2022.
Founded
2015
HQ
New York City, NYWebsite
Status
Privately held
Customer focus
B2B & B2C
Revenue model
Commission
Revenue
$7M (Sep 2021)
Valuation
$260M (Sep 2021)
Nomad Health Valuation
Nomad Health is currently valued at $260M, based on its Series D in September 2021.
The $63M round was led by Adams Street Partners, with participation from .406 Ventures, First Round Capital, RRE Ventures, Polaris Partners, Icon Ventures and 1 other investor.
Nomad Health valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2021 | Series D | $260M | 37.1x |
Nomad Health Revenue
Nomad Health's latest recorded revenue is $7M, as of its Series D in September 2021. At a $260M valuation, that implies a 37.1x revenue multiple.
Nomad Health revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2021 | $7M | $260M | 37.1x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Nomad Health Funding History
Nomad Health has raised a total of $274M across 7 funding rounds.
Nomad Health's first fundraising round was a $4M Series A in July 2016. The most recent completed round was a $34M undisclosed-stage round in December 2025.
Nomad Health funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2025 | Undisclosed stage | - | $34M | - | Nomad Health is a healthcare staffing platform connecting clinicians with healthcare jobs. It raised USD 33,802,679 in a Series Unknown round in December 2025 to continue scaling operations and enhance technological capabilities. Previous rounds include Series E of USD 22M in June 2024 led by HealthQuest Capital to expand product portfolio, Series D of USD 63M in September 2021 led by Adams Street Partners, and earlier rounds totaling USD 168,802,679 raised overall. Press mentions include a $22M funding round announcement on February 21, 2025, with a new CEO. Nomad Health was recognized among SIA’s 2025 Fastest-Growing Staffing Firms in the U.S. on February 20, 2025, and inducted into the 2026 Digital Health New York Hall of Fame on July 22, 2025. It also appointed Ralph Henderson to its board. |
| Jun 2024 | Series E | HealthQuest Capital (lead); Adams Street Partners; .406 Ventures; RRE Ventures; Polaris Partners; Icon Ventures | $22M | - | Nomad Health is a digital marketplace connecting healthcare professionals, particularly travel clinicians, with temporary staffing opportunities at healthcare facilities, emphasizing data-driven matching and technology for faster placements. The company announced a $22 million funding round on June 17, 2024, led by HealthQuest Capital, with participation from Adams Street Partners, Icon Ventures, Polaris Partners, .406 Ventures, and RRE Ventures. This Series E round aims to expand the product portfolio and address growing demand for its staffing technology that prioritizes bedside clinician placement. Alongside the funding, Nomad Health appointed Justin Lambert as CEO, succeeding co-founder Alexi Gharib Nazem, MD, who transitioned to the board of directors. HealthQuest Capital, a San Francisco Bay Area-based growth firm managing over $1.6 billion, focuses on commercial-stage healthcare innovators in areas like digital health and services. The investment supports Nomad's evolution from its 2016 launch as the first online marketplace for travel clinicians, leveraging technology for transparency and efficiency. Nomad has raised over $240 million total across prior rounds, including $63 million in 2021 and $105 million in 2022, but faced a 17% workforce layoff last year. Competitors like ShiftKey reached over $2 billion valuation, Incredible Health $1.65 billion, and Clipboard Health $1.3 billion in recent financings. |
| Jun 2022 | Undisclosed stage | Adams Street Partners (lead); Icon Ventures (lead); HealthQuest Capital; .406 Ventures; RRE Ventures; Trinity Capital; Polaris Partners; JPMorgan Chase; AlleyCorp | $105M | - | Nomad Health is a New York-based digital marketplace connecting temporary healthcare workers, such as nurses and allied health professionals like lab techs, physical therapists, ultrasound techs, and surgical techs, directly with hospitals and healthcare systems. Founded in 2015, it differentiates by offering employee benefits including health coverage to its temp workers, unlike many independent contractor models. The company serves over 4,000 healthcare facilities with a user base exceeding 250,000 workers and employs about 500 people as of mid-2022. On June 27, 2022, Nomad Health raised $105 million in a financing round comprising mostly equity ($75 million Series D - II) and debt ($30 million Debt - III), co-led by Adams Street Partners and Icon Ventures, with HealthQuest Capital as the largest new equity investor. Existing investors Polaris Partners, .406 Ventures, AlleyCorp, and RRE Ventures participated, while J.P. Morgan and Trinity Capital provided debt. This brought total funding past $200 million. The company reported being profitable and expecting to generate $700 million in revenue for 2022. Funds will support expansion beyond travel nursing into allied health professionals amid ongoing staffing shortages, though market pricing and volume had softened post-pandemic peaks. Nomad planned to hire a couple hundred more staff that year. In the competitive healthcare staffing landscape, Nomad competes with connectRN, TrustedHealth, ShiftMed, IntelyCare, CareRev, and SnapNurse, which also saw funding surges in 2021. The sector benefited from high demand during COVID but faced softening as surges declined. |
| Sep 2021 | Series D | Adams Street Partners (lead); .406 Ventures; First Round Capital; RRE Ventures; Polaris Partners; Icon Ventures; Silicon Valley Bank | $63M | $260M | Nomad Health operates a digital marketplace connecting healthcare workers, primarily nurses, with temporary job positions at hospitals and facilities across the US, streamlining staffing with technology for transparency and efficiency. Founded in 2015, the platform addresses shortages in the healthcare staffing industry, which grew to $19.9B in 2020 and was projected to reach $21.3B in 2021 amid COVID-19 demands. In September 2021, Nomad Health raised $63M in a Series D round combining equity and debt, led by Adams Street Partners, with participation from existing investors including Icon Ventures, Polaris Partners, RRE Ventures, .406 Ventures, First Round Capital, and Silicon Valley Bank, bringing total funding over $100M. The funding supported explosive growth, platform investments, hiring, and national expansion as transaction volume grew 7x and revenue 5x since February 2020, with 2021 year-to-date revenue doubling full-year 2020 figures. Employee count doubled to 170, and the platform served over 1M patients across all 50 states. This positioned Nomad to evolve from on-demand staffing to a comprehensive workforce management platform, expanding beyond nurses to other clinicians. |
| Aug 2019 | Series C | Icon Ventures (lead); .406 Ventures; RRE Ventures; Polaris Partners; Silicon Valley Bank | $34M | - | Nomad Health is a Joint Commission-accredited healthcare staffing platform that connects clinicians with temporary jobs at healthcare facilities, streamlining the $41B industry through a tech-enabled marketplace offering higher pay to clinicians and lower costs to providers. The company, founded in 2015 and headquartered in New York, raised a Series C round of $34M in August 2019, matching the specified investors including .406 Ventures, Icon Ventures (lead), Polaris Partners, RRE Ventures, and Silicon Valley Bank. Prior rounds included Series A $4M in July 2016 and Series B $12M in February 2018, followed by Series D $63M in September 2021 with some overlapping investors. Later traction includes $245M total funding across 9 rounds by 2021, with 500 customers generating $100K+ ARR as of January 2021. Nomad positions against competitors like Zocdoc ($71M revenue) and Practice Fusion ($38.9M), focusing on clinician marketplace innovation. |
| Feb 2018 | Series B | Polaris Partners (lead); .406 Ventures; First Round Capital; RRE Ventures; Company Ventures | $12M | - | Nomad Health is a New York City-based freelance platform connecting doctors and nurses with short-term clinical work at healthcare facilities. Founded in 2015 by entrepreneurial doctors and Kevin Ryan, it replaces inefficient broker systems with a cloud-based marketplace that reduces recruitment fees by up to 40%. The company raised $12 million in its Series B funding round on February 27, 2018, led by Polaris Partners, with participation from existing investors .406 Ventures, First Round Capital, and RRE Ventures. The funding supports nationwide expansion to all 50 states, product development, and hiring to address clinician shortages amid an expected shortfall of over 100,000 doctors by 2030 and 1.2 million nurses by 2022. At the time, Nomad Health had onboarded more than 30,000 clinicians and 1,500 healthcare facilities across 12 states, demonstrating rapid network growth. |
| Jul 2016 | Series A | First Round Capital (lead); RRE Ventures (lead); .406 Ventures | $4M | - | Nomad Health raised $4 million in its Series A round on July 26, 2016, led by First Round Capital and RRE Ventures, with participation from .406 Ventures. The funding supported establishing the platform to connect clinicians with healthcare jobs. This was the company's first institutional round, followed by subsequent raises including a $12M Series B in 2018, $34M Series C in 2019, and $63M Series D in 2021 led by Adams Street Partners. |
Who has invested in Nomad Health?
12 investors have backed Nomad Health across its funding rounds, including RRE Ventures, .406 Ventures, Polaris Partners, Icon Ventures, First Round Capital and Adams Street Partners.
Lead investors include HealthQuest Capital, Adams Street Partners, Icon Ventures, Polaris Partners, First Round Capital and 1 other investor.
Nomad Health Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| United States | 6 | Participant | Jul 2016 | |
| New York City, NY | 6 | Lead | Jul 2016 | |
| Boston, MA | 5 | Lead | Feb 2018 | |
| San Francisco, CA | 4 | Lead | Aug 2019 | |
| Chicago, IL | 3 | Lead | Sep 2021 | |
| Philadelphia, PA | 3 | Lead | Jul 2016 | |
| San Francisco, CA | 2 | Lead | Jun 2022 | |
| San Jose, CA | 2 | Participant | Aug 2019 | |
| Phoenix, AZ | 1 | Participant | Jun 2022 | |
| New York City, NY | 1 | Participant | Jun 2022 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialNomad Health Competitors
Nomad Health competitors include listed companies like One Career, ZIGExN, Quick Co. and Port Inc., and private ones like Braintrust and Jobcase.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Japan | Publicly listed | $49M | $14M | $278M | 3.4x | |
| Japan | Publicly listed | $188M | $38M | $290M | 1.2x | |
| Japan | Publicly listed | $218M | $41M | $306M | 1.0x | |
| Japan | Publicly listed | $187M | $34M | $181M | 1.1x | |
| San Francisco, CA | Private | - | - | $167M | - | |
| United States | Private | - | - | $150M | - |
Nomad Health Public Comps
Nomad Health is still privately-owned, but its public comps include One Career, EaseMyTrip, Uxin, So-Young, SharingTechnology, ZIGExN, Aramis Group, RideNow Group, AirTrip and Socar.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $49M | $14M | 4.5x | 3.4x | 15.3x | - | |||
| $56M | ($5M) | 4.1x | - | (46.4x) | - | |||
| $483M | ($16M) | 1.1x | 0.7x | (35.0x) | (24.9x) | |||
| $227M | ($32M) | 1.0x | 0.8x | (7.5x) | (11.9x) | |||
| $55M | $15M | 3.6x | 3.2x | 13.7x | - | |||
| $188M | $38M | 1.3x | 1.2x | 6.4x | 4.8x | |||
| $2.7B | $74M | 0.2x | 0.2x | 6.1x | 10.7x | |||
| $1.1B | $9M | 0.7x | 0.7x | 83.6x | 15.0x | |||
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Common questions about Nomad Health
| When was Nomad Health founded? | Nomad Health was founded in 2015. |
| Where is Nomad Health headquartered? | Nomad Health is headquartered in New York City, NY, United States. |
| Is Nomad Health publicly listed? | No, Nomad Health is a private, VC-backed company. |
| What is Nomad Health's valuation? | Nomad Health was last valued at $260M in its Series D in September 2021. |
| How much funding has Nomad Health raised? | Nomad Health has raised $274M across 7 funding rounds. |
| What was Nomad Health's last funding round? | Nomad Health's last funding round was a $34M undisclosed-stage round in December 2025. |
| Who are Nomad Health's investors? | Nomad Health's investors include .406 Ventures, RRE Ventures, Polaris Partners, Icon Ventures, Adams Street Partners, First Round Capital, HealthQuest Capital, Silicon Valley Bank, Trinity Capital, JPMorgan Chase and 2 others. |
| What is Nomad Health's revenue? | Nomad Health's latest recorded revenue is $7M (September 2021). |
| What is Nomad Health's revenue multiple? | Nomad Health's latest valuation implies a 37.1x revenue multiple ($260M valuation on $7M of revenue). |
| Which companies are comparable to Nomad Health? | Companies comparable to Nomad Health include One Career, ZIGExN, Quick Co., Port Inc., Braintrust and Jobcase. |
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