ShiftWizard, a Morrisville company whose scheduling software is used by more than 30 hospitals and other healthcare facilities, has raised $3 million in funding to accelerate its sales and product development.
In conjunction with its first outside funding announced Thursday, ShiftWizard also brought on a new CEO: Joe Velk, a former venture capitalist at two Triangle firms, Intersouth Partners and the N.C. Enterprise Fund. For the last 16 years Velk has had his own personal investment company, Contender Capital.
Velk said in an interview that he was impressed by the company’s product, also called ShiftWizard, and how far the company has come thus far under its own steam.
“With a modest amount of capital, we can grow a significant company,” he said. “There is a tremendous growth opportunity here.”
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Today ShiftWizard employs 11 full-time workers and a half-dozen contractors.
“I think it’s safe to say we envision headcount doubling over the next 12 months,” Velk said.
ShiftWizard was founded in 2005 by Christian Pardue and Shane Parker, both of whom were nurses at the time. The company’s product, also known as ShiftWizard, was launched in 2007.
“It’s important for hospitals to be able to manage their staff very quickly and very effectively, because they just never know who they’re going to need and where they’re going to need them,” Pardue said.
ShiftWizard, he added, “lets hospitals know where extra staff are and where extra staff need to go right now” and also can predict staffing needs six to eight hours in advance.
The software was initially aimed at scheduling for nurses but also can be used for other healthcare professionals such as lab technicians and pharmacists, said Parker.
ShiftWizard’s roster of customers includes Raleigh-based WakeMed Health and Hospitals.
WakeMed saved $2.1 million in overtime costs over a two-year period by using ShiftWizard, said hospital spokeswoman Kristin Kelly Gruman.
“The ability to have centralized oversight and communications across multiple departments, locations and facilities is very important and the ShiftWizard interface provides us that ability,” Gruman wrote in an email.