RosterLab, a healthcare startup based in Auckland, has raised $500 thousand in pre-seed funding to harvest state-of-the-art AI to change how healthcare institutions build rosters.
The funding round was led by Matū Fund, with participation from Quidnet Ventures, and the University of Auckland Investors’ Fund. The capital will allow RosterLabs to boost its software development and launch efforts, with New Zealand being the initial target market. Mark Bregman, General Partner of Quidnet Ventures, referred to the firm’s participation in the round by stating:
“Early in my career at IBM I was involved in the early stages of this sort of complex scheduling solution so I am particularly excited to see the advances in optimization that have been pioneered at University of Auckland being applied to a real world problem by Isaac and his team at RosterLab.”
RosterLab was founded back in 2020 with the mission to automate the rostering process for the healthcare industry, helping organizations reduce costs, improve efficiency, and analyze data, allowing them to focus their efforts on other critical areas. With this purpose in mind, the startup has developed an automated rostering platform that addresses weaknesses in existing rostering solutions. Andrew Chen, a partner at Matū Fund, said about the startup’s mission:
“Matū is really excited to lead this round because we believe that better rostering will lead to improved outcomes for both patients and staff. We’ve seen through the COVID-19 pandemic just how important our healthcare workers are, and it would be great to help them achieve better balance and to improve staff morale- t’s been great to co-invest again with Quidnet Ventures, who are committing strongly to supporting great Kiwi start-ups – it’s always helpful to have reliable partners.”
With the ongoing COVID pandemic placing an unprecedented strain on the healthcare sector, poor staffing compliance has evolved from being a financial concern to being a life or death matter. RosterLab believes that by automating the process in a manner that ensures the best possible rostering outcome, its platform can help millions of doctors and patients to provide and receive better care.