SPRINGVILLE, UT and FORT WORTH, TX – August 6th, 2024 – Covr, a leading workforce management platform for post-acute care providers, has joined forces with Data IQ, a leading provider of business intelligence solutions to skilled nursing facilities, to create a best-in-class labor management platform purpose-built for the long-term and post-acute care industry.
Covr’s SaaS-based workforce management platform helps skilled nursing facilities streamline scheduling workflows, ensure regulatory compliance, and facilitate communication with employees. Data IQ’s business intelligence and analytics software enables facility operators to synthesize multiple data sources to benchmark enterprise-wide performance and identify areas for operational enhancement.
Together, Covr and Data IQ create a robust labor management platform allowing care providers to streamline employee workflows while garnering critical operational and financial insights. The combined company will serve over 150 healthcare operators representing more than 1,000 facilities across healthcare sectors including skilled nursing, assisted living, and memory care.
The combination is supported by a strategic investment from Greenridge Growth Partners, a leading software-focused private equity firm based in Austin, TX. With this investment, Greenridge’s Jack Cardwell, Ben Moss, and Scott Shapiro have joined the Covr board. Greenridge’s investment also includes additional growth capital to support continued customer-focused product development and expansion.
“Efficiently managing labor is the single largest challenge faced by post-acute care operators,” said Jack Cardwell, Partner and Co-Founder of Greenridge. “The combined offerings of Covr and Data IQ equip facilities and operators with the tools they need to manage their workforces effectively to benefit residents, clinicians, and all employees. We’ve been incredibly impressed by Tanner, Derek, and each of their teams, and we are thrilled to embark on this journey with them.”
“At Covr, our mission is to optimize healthcare’s workforce and operations with best-in-class workforce management and analytics software,” said Covr CEO, Tanner Thompson. “From the first time we met Derek and the Data IQ team, we were highly impressed by the powerful analytics engine they have built to serve the post-acute care industry. Their solution is the perfect complement and addition to the value Covr provides to our customers, and we are incredibly excited to partner with Data IQ and the Greenridge team to achieve our mission in the coming years.”
Derek Gay, Data IQ CEO, added “Tanner and the Covr team have built a truly innovative set of modern software offerings for the healthcare facility customers which rely on them every day. Both Data IQ and Covr share a similar vision to improve the lives of healthcare operators and benefit their residents. We believe this combination will accelerate our achievement of that vision in partnership with Covr and Greenridge.”
ABOUT COVR
Founded in 2016, Covr is a leading provider of workforce management software to the post-acute care industry. Covr’s scheduling, communication, and engagement solutions help facilities streamline scheduling workflows, ensure regulatory compliance, and facilitate communication with employees. For more information, visit www.covr.care.
ABOUT DATA IQ
Founded in 2018, Data IQ is a leading provider of business intelligence solutions that help post-acute care operators benchmark enterprise-wide performance and identify areas for operational enhancement. Leveraging clients’ raw data, Data IQ creates interactive and user-friendly reports and dashboards that can be configured for end users at all levels and functional areas of an organization. For more information, visit www.dataiqbi.com.
ABOUT GREENRIDGE GROWTH PARTNERS
Greenridge Growth Partners is a software-focused private equity firm based in Austin, TX. Greenridge seeks to invest alongside outstanding software entrepreneurs who have bootstrapped their businesses and are looking for the right partner to help them build market-leading businesses. For more information on Greenridge, visit www.greenridgegrowth.com.