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OnShift Secures $2.3 Million in Venture Capital Investment

12/6/2010

OnShift Secures $2.3 Million in Venture Capital Investment 


CLEVELAND, OH – December 6, 2010 – OnShift, Inc., a leading provider of staff scheduling and shift management software for the healthcare industry, today announced that it has closed on a $2.3 million venture capital investment, led by Draper Triangle Ventures of Pittsburgh. All existing OnShift investors joined this round of funding, including Early Stage Partners, Glengary LLC, JumpStart Inc., and North Coast Angel Fund, LLC.

This investment will be used to accelerate OnShift’s sales and marketing efforts and increase its market share in the healthcare industry. OnShift is experiencing significant business growth, with customer acquisition increasing more than 500% year-over-year.

Michael Stubler, Managing Director and co-founder of Draper Triangle Ventures, will join the OnShift Board of Directors. “At OnShift, we are investing in a strong team with great leadership,” said Stubler. “The company has a unique offering that is having a compelling impact on customers. We are pleased to partner with the OnShift team to help accelerate the adoption of their solutions in the market.”

Bob Lauer, Partner of Glengary LLC, stated, " Glengary’s increased investment in OnShift is recognition of our ongoing optimism of the management team’s ability to deliver an attractive SaaS solution, with compelling customer ROI, to a significantly underserved market. We are anticipating strong results in 2011 based on the use of the new funding to expand and accelerate sales and marketing efforts."

Long-term care companies and other healthcare organizations use OnShift’s web-based staff scheduling software to reduce labor costs by preventing overtime, mitigate regulatory compliance risk, and improve efficiencies through automated scheduling and open shift management. This saves time and frees up nurses so they can focus on providing quality resident care. Customers are up and running quickly with OnShift’s SaaS (Software as a Service) deployment model, and typically experience ROI within the first few weeks of implementation.

“This funding validates OnShift’s achievements in the healthcare industry. Our market presence, customer growth and successful implementations will continue on an even greater scale with this investment,” said Mark Woodka, CEO of OnShift.