Vivian Health Announces Agreement with Lume, a Banking Platform

Vivian Health, an IAC (NASDAQ: IAC) company and the leading healthcare jobs marketplace serving healthcare professionals first, announced an agreement with Lume, a banking platform for healthcare workers, which “allows Vivian to leverage Lume’s technology to create new banking and financial services for the more than 800,000 registered clinicians on the Vivian platform.”

As part of the agreement, Lume co-founders Christopher Chang and Shantanu Joshi will join Vivian Health “to lead product and engineering efforts focusing on developing new financial products and value-added services that directly benefit healthcare professionals, furthering Vivian’s mission of building the most aligned solution for America’s healthcare workers.”

Parth Bhakta, co-founder and CEO of Vivian Health, said:

“Chris and Shantanu’s entrepreneurial energy, passion for building products which truly serve those who serve others, and Lume’s core technology offering will significantly accelerate Vivian’s ability to provide millions of healthcare professionals the most candidate-centric experience in healthcare hiring.”

Bhakta added:

“Chris and Shantanu will help build the foundation of Vivian’s rewards and loyalty offering to healthcare professionals, and they will ultimately help retain more of America’s healthcare workforce in an era of persistent staff shortages and a shrinking labor force. The Lume team knows firsthand the unique challenges and barriers that healthcare workers face today, and together, we are poised to create better experiences, fundamentally aligned with clinicians’ interests, that can ultimately help alleviate systemic staff shortages in healthcare.”

Founded in 2019 and backed by Y-Combinator, Lume is “a new kind of banking experience built from the ground up for nurses and those working in the healthcare industry.”

Lume features “such as on-demand pay, student loan and debt refinancing, and personalized job recommendations are all designed to help healthcare workers live better lives.”

Mr. Chang added:

“It was clear ever since our first meeting with Parth that we were both on a mission to build a best-in-class experience for clinicians and we aligned on a strategy to do that. It very much felt like a natural partnership.” 

Mr. Joshi commented:

“Having previously run a healthcare staffing firm ourselves, we were already deeply familiar with Vivian’s customers, product offerings, and vision. We’re incredibly excited to hit the ground running by bringing banking and financial products to every nurse on the Vivian platform.”

As the first jobs marketplace built for healthcare professionals, Vivian offers healthcare employers nationwide, “including both staffing agencies and large health systems, a fast and effective way to fill a variety of healthcare jobs across permanent roles, per-diem shifts, local contracts, and travel positions.”

Vivian has “seen significant adoption among healthcare professionals, with over 800,000 registered clinicians using its jobs marketplace.”

Much of this growth has reportedly “come through organic channels and word-of-mouth.”

Vivian Health recently “announced a $60 million equity investment led by Thoma Bravo, a leading software investment firm, with participation from IAC and Collaborative Fund, to further accelerate its growth.”

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