WillItSurvive
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Trusted Health

trustedhealth.com ↗

Digital staffing platform matching travel nurses to hospital shifts, plus a workforce software arm called Works.ai.

Losing its protection
Assessed 22 July 2026 · Evidence as of 22 July 2026
The structural protection is eroding.
On the recordSince 22 July 2026 · Checkable from H2 2026 · Every call on the record Checkpoint: Aya Healthcare's next move post Cross Country/TotalMed integration, or any new Trusted funding announcement
The call

Trusted's marketplace sits in a shrinking market facing better-funded rivals and AI-driven matching, while its Works.ai hospital software business grows and holds tighter integrations that are harder to displace.

Trusted Health runs two businesses: a marketplace that connects nurses with shift work, and software called Works.ai that hospitals use to manage scheduling and staffing. The marketplace is easy to copy and is shrinking because fewer hospitals need temp nurses, which is why bigger companies like Aya Healthcare are buying up competitors and automating the matching process with software. The scheduling software is harder to replace because hospitals have already plugged it into their systems and rely on it daily, but Trusted has not raised money in five years and has cut staff roughly in half since 2023, which raises questions about whether the company can survive long enough for that software business to become its main engine of growth.

Why
01
AI pressure: ShiftMed AI Workforce Suite, Vivian AI, Hippocratic AI. AI-driven matching and screening tools already automate the core nurse-to-shift function Trusted's marketplace sells. Could AI do the core job? Only partly.
02
Bigger players: Aya Healthcare. Aya bought Cross Country and TotalMed in December 2024, building a bigger, better-funded rival with more scale to out-tech Trusted's marketplace. Could a giant copy it? Yes, easily.
03
What protects it. Works.ai's W-2 compliance and hospital scheduling integrations at Mercy and Deaconess create switching costs AI tools can't easily replicate.
What would change this call
Trusted announces new funding, a down round, or a strategic sale within the next year. Shows whether the 5-year financing silence reflects health or distress.
Aya Healthcare launches or expands a digital shift-matching marketplace post-integration. Would show a well-funded incumbent directly targeting Trusted's core marketplace.
Mercy Health or Deaconess renews or drops its Works.ai contract. Tests whether Works.ai's hospital lock-in is holding or eroding.
Key numbers
  • No new funding since Nov 2021 raise (2026-06-30)
  • Headcount down 41% from 2023 peak to 708 (2026-06-29)
  • US healthcare staffing market down 6% in 2025 (2025-09-08)
Named risks
  • No disclosed funding round since November 2021, raising financing runway concerns. Severity: high
  • Headcount decline of roughly 40 percent from 2023 peak signals cost stress or shrinking demand. Severity: high
  • Core marketplace matching function is highly automatable and being copied by better funded rivals. Severity: high
  • Shrinking healthcare staffing TAM, down 6 percent in 2025, pressures marketplace revenue. Severity: medium
  • Conflicting financial disclosures, bootstrapped claim versus documented 175 million dollars raised. Severity: medium
Rivals, as read in July 2026
RivalDirectionEvidence
Aya Healthcarelosing toAcquired Cross Country Healthcare's TotalMed and Travel Nurse Across America, December 2024, consolidating scale
ShiftKeylosing toReported $300M-plus raised at $2B-plus valuation (vendor claimed), January 2023, far outcapitalized
Vivian HealthcontestingDeployed Vivian AI for automated candidate screening in 2024 (vendor claimed)
ShiftMedcontestingLaunched AI-Powered Workforce Suite July 2025 targeting cost savings and efficiency
Hippocratic AIcontestingCharges about $9 per hour for AI nursing-adjacent agents versus $45 per hour human nurse pay, as of Feb 2026
Questions people ask
Is Trusted Health profitable in 2026?
No independently verified profitability figures exist. Trusted's own Latka-reported estimate cites 232 million dollars in 2024 revenue, but this conflicts with its documented 175 million dollars raised through November 2021, so financial health remains unclear as of mid 2026.
Has Trusted Health raised new funding recently?
No new equity round has been publicly disclosed since its 149 million dollar Series C in November 2021, per Crustdata's mid 2026 snapshot noting funding last occurred 56 months prior, as of June 2026.
Is Trusted Health laying people off?
Headcount fell from about 1,191 employees in 2023 to 715 in 2024, roughly a 40 percent decline, per Revelio Labs, with only a slight recovery to about 708 to 894 employees by mid 2026 depending on the data provider.
Could AI replace Trusted Health's marketplace business?
The nurse to shift matching side is highly automatable and already being copied by Vivian AI and ShiftMed's AI Workforce Suite, launched July 2025. Trusted's own Works.ai product has added AI dynamic pricing since 2023 to stay competitive.
Who is Trusted Health's biggest competitor?
Aya Healthcare is the named consolidator, having agreed in December 2024 to acquire Cross Country Healthcare's TotalMed and Travel Nurse Across America units, tightening competition in tech-enabled healthcare staffing.
What is Works.ai and does it help Trusted Health survive?
Works.ai is Trusted's B2B hospital scheduling and workforce management platform, launched 2021, reporting 2.5x year over year growth as of August 2024 with customers like Mercy Health and Deaconess, giving it workflow lock in that the core marketplace lacks.
Timeline
  • 2026-06-12Works product rebranded works.ai, touts Mercy 721,000-plus shifts picked up and 60 million dollars saved
  • 2025-07-15Competitor ShiftMed launches AI Powered Workforce Suite
  • 2024-12Aya Healthcare agrees to acquire Cross Country Healthcare's TotalMed and Travel Nurse Across America
  • 2024-10-24Works featured in KLAS Research Emerging Company Spotlight report
  • 2024-08-01Works reports 2.5x year over year revenue growth since 2021 launch
  • 2023Works adds AI-driven dynamic pricing algorithm for shift rates
  • 2021-11-18Trusted raises 149 million dollar Series C, cumulative funding 175 million dollars
  • 2019-05-06Trusted Health raises 20 million dollar Series A led by Craft Ventures
  • 2017Trusted Health founded in San Francisco by Matt Pierce and Lennie Sliwinski
Revision history
22 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
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