Float Health, a nurse staffing and pharmacy referral startup, has secured $10 million in a Series A funding round led by Canvas Ventures. The company, based in San Francisco, was founded in 2021 and currently operates in California and Arizona. Float’s business model focuses on helping patients receive care in their homes by working with registered nurses and scheduling shifts.
One of Float’s primary areas of focus is addressing chronic illness, which affects 133 million people in the United States. CEO Ryan Johnson emphasized the importance of moving specialty medicine into the home environment to improve patient outcomes and help alleviate the burden on nurses who frequently work long shifts and juggle priorities.
Float collaborates with specialty pharmacies that send staffing requests to the company. Clients include pharmacies such as CVS Health, Kroger, Option Care Health, Optum, Soleo Health, and Walgreens Boots Alliance. The recent funding round not only involved Canvas Ventures but also Wave Capital, Y Combinator, Burst Capital, and Also Capital, bringing Float’s total funds raised to $15 million.
In addition to institutional investors, individuals like Max Mullen, a co-founder of Instacart, Jed Nachman, COO of Yelp, and Brian Osborn, former vice president of marketing at Yelp, participated in the funding round as angel investors. Float has reported 97% staffing rate and has conducted 19,000 visits. On average, Float patients receive 22 visits per year, surpassing the average of 13 visits for home infusion patients. This funding reflects investors’ interest in healthcare companies that offer innovative solutions to expand care services beyond traditional healthcare settings.