Clipboardhealth
“Can a healthcare-shift marketplace with per-diem workers become the default financial rail for a fragmented $100B+ contingent healthcare workforce by anchoring on instant pay?”
Founded2016
HQCovina, CA (San Francisco-founded, remote-first)
FoundersWei Deng
Total raised$94.1M
Latest roundSeries C, 2022
Valuation$1.3B post-money (2022)
IndustryVertical SaaS / Healthcare
The story
Clipboard Health launched in 2016 as a healthcare staffing marketplace focused on long-term care, matching per-diem nurses/CNAs with facilities. The embedded finance layer emerged from a core marketplace need: same-day worker payouts (InstantPay) that use location/NFC verification to trigger disbursement via Stripe Connect. The company has resisted issuing its own cards or building deeper financial products; the fintech stack remains lean and payout-focused, with Stripe handling contractor payouts and Invoiced handling AR for facilities.
Last 12 months
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Product timeline
2016
Founded as Two Magnets by Wei Deng to connect healthcare workers with facilities via app-based marketplace· launch
2021
Raised $50M Series B (unannounced at time)· funding
2022
Raised $30M Series C at $1.3B valuation; expanded to more cities· funding
2022
Launched InstantPay — same-day earnings distribution to healthcare professionals via Stripe· payments
2026
Expanded into home health, hospitals, and dental staffing; scaled to 6,500+ workplaces and 1M+ workers· expansion
The stack
3 layers disclosed in Clipboardhealth’s embedded-finance stack
Payments / PSP
StripeInvoiced
Payroll
in the full report
Accounting
in the full report
Accounting gap: significant
2 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.