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Y Combinator Alum Axle Health Raises $4.2M to Scale Its Home Health Care Software Platform
Feb 23, 2024
Axle Health, a Y Combinator alum, has successfully raised $4.2M in seed funding to expand its innovative home health care software platform, bringing its total funding to $4.4M. The investment, led by Pear VC and followed by TRAC VC, will be utilized to enhance their scheduling and workforce management solutions, specifically designed to address the critical clinician staffing shortages and burnout in the healthcare sector. Axle's proprietary software not only optimizes the scheduling and operational aspects of home health care but also significantly improves patient care by maximizing clinicians' face-to-face time with patients. With a strong market response and a revenue surpassing $1M ARR within the first year post-launch, Axle is set to revolutionize the way home health care providers manage their workforce and deliver services.

LOS ANGELES Today, Axle Health (“Axle”), the leading provider of scheduling and workforce management software in the home health care space, is announcing the close of $4.2M in seed funding, bringing its total raised to $4.4M. The initial seed round was led by Pear VC, with an additional round of funding led by TRAC VC with participation from existing investors.

“Pear has a long history of identifying exceptional teams delivering on a clear market need,” said Pear VC partner Vivien Ho. “Axle’s been able to show significant value created for its customers, and the team has done a phenomenal job executing on their vision. They’re exactly the kind of company Pear is excited to work with.”

Axle’s software platform helps solve the staffing shortage being felt across the healthcare space, by dramatically improving the utilization of home-based clinical staff. Axle’s proprietary logistics engine reduces the time clinicians spend driving between patients’ homes, which allows them to spend more time caring for patients.

“With clinician burnout skyrocketing, the only way to solve the national staffing shortage is by getting best-in-class technology into the hands of every provider in the country,” said Axle CEO Adam Stansell. “If we can scale and deploy our product faster, then that means more patients will be able to get the care they need.”

Axle launched its new software platform for existing home health care providers after spending several years building out a vertically integrated care delivery platform, and immediately saw a strong response from the market, with revenue surpassing $1M ARR in the first 12 months after launch. The company was founded in 2020, and participated in the Y Combinator accelerator in 2021.

“We’re thrilled to bring TRAC on board,” said Stansell. “We weren’t planning on raising additional capital once we got profitable last year, but we're excited to add a valuable new perspective to the team, while also enabling us to lean aggressively into our new product offering.”

The new funding will be used to hire additional software and machine learning engineers to continue building out the software platform. Interested engineering applicants can apply for a role at https://axle.health/careers.

About Axle Health:

Axle Health  provides scheduling and workforce management software for home health care providers. The Axle platform includes a mobile app for clinicians, an operations dashboard for office teams, proprietary logistics algorithms to optimize scheduling, and a patient engagement and booking solution. Axle is integrated with a wide range of EMRs, and the entire Axle product can be customized and accessed modularly via API. Some of the biggest home health care providers in the country use Axle’s software to improve the utilization of their clinical teams, and automate the operational burden of scheduling and dispatching.

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