Addressing Healthcare Worker Shortages: Stepful Raises $31.5M to Expand Accessible Training

With an innovative approach to healthcare training, Stepful has secured $31.5 million in Series B funding to expand its reach and impact.

Led by Oak HC/FT, the funding round included participation from notable investors like Y Combinator, Reach Capital, and Intermountain Ventures.

This investment will accelerate Stepful’s mission to address the U.S. healthcare workforce shortage through affordable, flexible training programs tailored for entry-level and advanced healthcare positions.

About Stepful

Founded by Carl Madi, Tressia Hobeika, and Edoardo Serra, Stepful offers accelerated, cost-effective training for essential healthcare roles, connecting graduates to job opportunities through partnerships with healthcare providers.

By reimagining healthcare education with technology, Stepful aims to bridge the healthcare labor gap and improve access to career pathways in healthcare.

Expanding Accessible Healthcare Training

Stepful’s AI-powered learning platform focuses on providing accelerated, low-cost training for roles such as medical assistants, pharmacy technicians, and licensed practical nurses.

In contrast to traditional trade schools, Stepful’s platform allows students to complete their training online, making it especially accessible for working adults from underserved communities.

Since 2021, the company has grown rapidly—from 50 students in its first year to an expected 30,000 enrollees by the end of 2024.

With this new funding, Stepful aims to further expand its B2B offerings and deepen its partnerships with healthcare systems.

Designed for Working Adults

Stepful’s model is built to suit the needs of working adults by offering a blend of virtual, instructor-led courses, cohort-based learning, and one-on-one coaching.

The platform’s interactive modules and AI-driven feedback make it easier for students to progress without falling behind, even as they manage work and personal commitments.

This setup allows students to learn at their own pace, making healthcare training more achievable for those balancing other responsibilities.

Meeting Urgent Workforce Demands

The demand for allied healthcare professionals is soaring, with an anticipated shortage of 3.2 million healthcare workers by 2026, according to the American Hospital Association.

Traditional models, like community colleges and trade schools, often face limitations such as high costs, in-person requirements, and enrollment caps, making it challenging to scale.

Stepful’s online platform offers a scalable solution that’s less costly and easier to access, yielding impressive results: an 87% pass rate on the National Healthcareer Association CCMA exam (10 points above the national average) and a 75% completion rate.

A Growing End-to-End Workforce Solution

As the healthcare training market, valued at $28 billion, expands, Stepful is evolving into a comprehensive workforce solution.

Its partnerships with major healthcare providers—including Providence, Ohio State University Physicians, and Johns Hopkins All Children’s Hospital—position Stepful to help employers train, screen, and onboard skilled healthcare workers directly.

This B2B focus not only helps healthcare systems fill critical roles more efficiently but also enhances the overall quality of patient care.