Stepful, a startup using AI to train entry-level healthcare workers, has raised a $31.5M Series B led by Oak HC/FT, with participation from Y Combinator, Reach Capital, and AlleyCorp. This follows their $12M Series A raised less than nine months ago.
Founded in 2021 by former Uber executive Carl Madi, Udacity’s Tressia Hobeika, and ex-Apple engineer Edoardo Serra, Stepful offers a 4-month training program for medical assistants and pharmacy technicians at $2,500 – significantly faster and more affordable than traditional 2-year programs costing up to $20,000.
“What we liked about Stepful was that it is taking people who are hourly workers, in most cases, and getting them into the healthcare field where they have steady salaries and proper benefits,” Oak HC/FT partner Vig Chandramouli told TechCrunch. “They are also clever in how they’re leveraging generative AI.”
The platform combines AI-powered personalized support with structured learning, requiring students to attend weekly instructor-led classes and work in groups. For hands-on training, Stepful automatically matches students with its network of 8,000 partner clinics and hospitals.
The company has shown remarkable growth, expanding from just 50 students in its first year to a projected 30,000 enrollees in 2024. Stepful maintains a 75% graduation rate through AI-powered engagement and human coaching, while building partnerships with 8,000 healthcare facilities for practical training.
The funding comes as the U.S. healthcare system faces a projected shortage of 3.2 million workers, according to the American Hospital Association. The investment signals growing interest in AI-enabled healthcare workforce development as a solution to critical staffing shortages in the medical sector.
