Diligence report Healthcare & Life Sciences / healthcare workforce technology and staffing marketplace Private unicorn / growth-stage healthcare staffing and workforce technology platform

IntelyCare

IntelyCare Startup Diligence Report

IntelyCare may be a scaled healthcare workforce platform with W2/compliance, credentialing, UKG integration, Credenza identity tooling and CareRev acute-care expansion. Diligence should test whether public scale claims translate into predictable, high-margin revenue amid intense competition and regulatory/labor/privacy complexity.

Company profile

IntelyCare Startup Diligence Report

IntelyCare passes the public eligibility screen: public evidence supports an active private unicorn profile, a $1.1B 2022 valuation, active operations, 2024 CEO transition and 2026 acquisition of CareRev by IntelyCare. Core diligence remains unresolved because financials, cap table, customer concentration, retention, legal status, security controls, contracts and HR records are not public.

Website: www.intelycare.com
Sector: Healthcare & Life Sciences / healthcare workforce technology and staffing marketplace
Geography: United States; Quincy, Massachusetts headquarters public signal
Stage: Private unicorn / growth-stage healthcare staffing and workforce technology platform
Known aliases: IntelyCare, IntelyCare, Inc., IntelyPro, IntelyEdu, Credenza, CareRev (acquired/continued brand)
Report version: 1.0
Timezone: UTC

Executive summary

Strengths

CB context and WSJ summary support $1.1B valuation.
Company/app-store sources verify active products.
Public sources verify CEO transition, UKG partnership and CareRev acquisition.

Risks

Financial quality and valuation support remain private.
Revenue predictability, concentration, churn and NRR are not public.
Competition may pressure price, CAC and supply.
Sensitive workforce/geolocation data creates privacy/security risk.
Public dockets and incomplete searches require counsel review.

Gaps

Audited financials, revenue quality, cash/debt, burn, AR aging, backlog and forecast model.
Cap table, preferences, options, debt and financing/acquisition documents.
Top customer revenue, concentration, churn/retention, NRR, contracts and references.
Sales productivity, CAC/payback, channel mix, pipeline and pricing.
Security/privacy controls, vendor contracts, insurance, regulatory/legal schedules and HRIS data.

Recommended next steps

Run finance and revenue-quality diligence before relying on headline valuation.
Request cap table and financing/acquisition documents.
Validate demand through references, cohorts, contracts and raw shift/fill/cancel data.
Have counsel review litigation, labor/staffing regulation, OSHA, privacy/security, IP, insurance and contracts.
Benchmark product/pricing against competitors with buyer references.

Risk register

high high likelihood

R-004: Competition and pricing pressure

Flexible healthcare staffing competitors compete for facilities and clinicians.

Diligence request: Run win/loss, pricing benchmark and buyer references.

high medium likelihood

R-001: Financial quality and valuation support

Headline valuation is public but revenue, margin, cash, debt, burn and AR/backlog are not.

Diligence request: Request audited financials, KPI pack and valuation bridge.

high medium likelihood

R-003: Clinician churn, retention and shift reliability

Marketplace quality depends on supply, repeat usage, cancellations and facility satisfaction.

Diligence request: Request fill/cancel/no-show data and retention.

high medium likelihood

R-005: Labor, staffing and healthcare regulatory compliance

W2 workforce, credentialing, staffing agency certification and state rules create exposure.

Diligence request: Counsel review worker classification, licenses, wage/hour and OSHA.

high medium likelihood

R-006: Privacy, security and sensitive workforce data

Sensitive employment, credential, background, payment and geolocation data plus vendors.

Diligence request: Request SOC 2, pen tests, DPAs and incident history.

high medium likelihood

R-011: Operational dependencies and vendor concentration

Likely app-store, cloud, payroll, background-check, payment, UKG and local-ops dependencies.

Diligence request: Request vendor contracts, SLAs, DPAs and BCP.

high unknown likelihood

R-002: Revenue predictability and customer concentration

Top customers, concentration, churn, NRR and pipeline conversion are not public.

Diligence request: Request customer revenue, cohorts, contracts and references.

high unknown likelihood

R-010: Financing runway and preference stack

Cash runway, preferences, debt, warrants and acquisition financing are not public.

Diligence request: Request cap table, waterfall, debt and runway model.

Chapter 01

01Financial Information

Public sources corroborate unicorn valuation and active operations, but core financial diligence remains private.

EC-001 EC-002 EC-003 EC-008 EC-010 EC-011 EC-013 EC-025

I.A Annual and quarterly financial information for the past three years

not publicly verifiable confidence: low

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-003 EC-011 EC-025

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-001: Financial quality and valuation support
R-002: Revenue predictability and customer concentration

Follow-up questions

Provide data-room documents and management responses.

Public financial and unit-economic signal ledger
item	public evidence	status	diligence request
Financial statements	Not located publicly.	not_publicly_verifiable	Audited statements and management accounts.
Shift volume	LinkedIn claim: shift every 30 seconds.	partially_verified	Raw shift, bill/pay, margin and cancellation data.

I.B Financial Projections

not publicly verifiable confidence: low

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-001 EC-003 EC-008 EC-010 EC-011

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-001: Financial quality and valuation support

Follow-up questions

Provide data-room documents and management responses.

Financial projections and valuation diligence matrix
item	public evidence	status	diligence request
Growth drivers	App, UKG, scale claims and CareRev acquisition.	not_publicly_verifiable	Three-year model and forecast-vs-actual.
Runway and financing	2022 valuation and 2026 acquisition only.	not_publicly_verifiable	Cash runway, debt and acquisition financing.

Public valuation trajectory and data gaps Only one verified public valuation anchor; current valuation private.

I.C Capital Structure

not publicly verifiable confidence: low

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-001 EC-002 EC-003

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-001: Financial quality and valuation support
R-010: Financing runway and preference stack

Follow-up questions

Provide data-room documents and management responses.

Capital structure and ownership snapshot
item	public evidence	status	diligence request
Shares/stockholders/options	Not public.	not_publicly_verifiable	Fully diluted cap table and option plan.
Debt/warrants/notes	Not disclosed publicly.	not_publicly_verifiable	Debt, warrant, note and lien schedule.

I.D Other financial information

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-001 EC-003 EC-010 EC-013

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-001: Financial quality and valuation support
R-010: Financing runway and preference stack

Follow-up questions

Provide data-room documents and management responses.

Public funding and strategic transaction history
item	public evidence	status	diligence request
2022 unicorn financing	$115M investment at $1.1B valuation; CB join 2022-04-06.	verified headline; terms private	Financing docs, preferences and cap table.
2026 CareRev acquisition	IntelyCare announced acquisition of CareRev; terms undisclosed.	verified event; economics private	Purchase agreement and integration plan.

Public financing and strategic event timeline Timeline of valuation, CEO transition and CareRev acquisition.

Chapter 02

02Products

Public product evidence supports a healthcare talent/staffing platform, nurse app, facility products and Credenza/education signals.

EC-004 EC-005 EC-006 EC-008 EC-009 EC-014 EC-015 EC-023

II.A Description of each product

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-004 EC-005 EC-006 EC-008 EC-009 EC-014 EC-015 EC-023

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-005: Labor, staffing and healthcare regulatory compliance
R-007: Product/integration execution and dependency

Follow-up questions

Provide data-room documents and management responses.

Product and SKU matrix
item	public evidence	status	diligence request
Talent platform	AI platform/job board matching nurses and care settings.	verified public positioning	Usage, roadmap and model performance.
Facility staffing	W2, credentialing, onboarding, education and reporting.	verified public positioning	Contracts, SLAs and margins.
Nurse app / Credenza	Shift app and verified clinical profiles/employer postings.	partially_verified	MAU, active clinicians, pricing and migration plan.

Pricing and monetization comparison
item	public evidence	status	diligence request
Facility billing	Transparent billing claim; no rate card.	partially_verified	Rate cards, discounts and gross margin.
Nurse pay / Credenza employer posting	25% higher pay claim; Credenza starter post is free.	partially_verified	Bill/pay spread, benefits cost and paid-tier conversion.

Public product architecture Inferred architecture for facilities, clinicians, app, platform, UKG and Credenza.

Chapter 03

03Customer Information

Demand signals exist, but top customers, concentration, churn and suppliers are not public.

EC-003 EC-007 EC-008 EC-009 EC-010 EC-011 EC-025

III.A Top customers by application

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-007 EC-008 EC-011

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-002: Revenue predictability and customer concentration
R-003: Clinician churn, retention and shift reliability
R-012: Reputation and quality-claim substantiation

Follow-up questions

Provide data-room documents and management responses.

Public customers, testimonials and usage signals
item	public evidence	status	diligence request
Facility testimonials	The Meadows of Central Mass and Montefiore of Menorah Park testimonials.	partially_verified	Contracts, revenue and references.
50k professionals / App rating	UKG release says 50,000 per diem professionals; Apple 4.2/5 from 1.2K ratings.	partially_verified	Active definition, MAU, retention and complaints.

III.B Strategic relationships

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-009 EC-010

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-007: Product/integration execution and dependency

Follow-up questions

Provide data-room documents and management responses.

Strategic relationships and partnerships
item	public evidence	status	diligence request
UKG	UKG Dimensions technology integration.	verified announcement	Agreement, adoption and revenue contribution.
CareRev / investors	CareRev acquisition and investor support quotes.	verified event; terms private	Purchase agreement, liabilities and governance rights.

III.C Revenue by customer

not publicly verifiable confidence: low

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-003 EC-008 EC-009 EC-025

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-002: Revenue predictability and customer concentration
R-003: Clinician churn, retention and shift reliability

Follow-up questions

Provide data-room documents and management responses.

Customer concentration, severed relationships and supplier gaps
item	public evidence	status	diligence request
Top customers and severed relationships	Not public; testimonials only.	not_publicly_verifiable	Top customer revenue, churn and lost relationships.
Top suppliers/vendors	Privacy policy names vendor categories, not vendors.	not_publicly_verifiable	Vendor spend, contracts, SLAs, DPAs and SOC reports.

Customer/partner concentration gap chart Null revenue-share bars highlight non-public concentration.

III.D Significant relationships severed within the last two years

not publicly verifiable confidence: low

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-003

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-001: Financial quality and valuation support

Follow-up questions

Provide data-room documents and management responses.

III.E Top suppliers

not publicly verifiable confidence: low

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-025

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-011: Operational dependencies and vendor concentration

Follow-up questions

Provide data-room documents and management responses.

Chapter 04

04Competition

IntelyCare competes in a crowded flexible healthcare workforce market.

EC-004 EC-005 EC-008 EC-009 EC-010 EC-011 EC-017 EC-022

IV.A Competitive landscape by market segment

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-004 EC-005 EC-008 EC-009 EC-010 EC-011 EC-017 EC-022

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-004: Competition and pricing pressure

Follow-up questions

Provide data-room documents and management responses.

Competitor comparison matrix
item	public evidence	status	diligence request
IntelyCare	W2/compliance, UKG, CareRev/Credenza and nurse job board claims.	target	Normalize active supply, customers and pricing.
Clipboard / ShiftKey / ShiftMed / Nursa	Flexible healthcare staffing/workforce platforms; Clipboard claims 1M professionals.	competitor self-claims	Win/loss, buyer references and regional share.

Basis-of-competition scoring
item	public evidence	status	diligence request
Supply depth and integration	IntelyCare scale claims and UKG/CareRev; competitors claim large networks.	partially_verified	Active credentialed supply and integration adoption by market.
Quality/compliance	W2, Joint Commission, ANCC, 99% 5/5 claims.	partially_verified	Audit results, incident rates and facility CSAT.

Healthcare workforce marketplace positioning map Positioning map for IntelyCare and competitors.

Chapter 05

05Marketing, Sales, and Distribution

Public GTM channels are visible, but CAC, pipeline and sales productivity are private.

EC-002 EC-003 EC-005 EC-006 EC-007 EC-008 EC-009 EC-010 EC-011 EC-012 EC-022 EC-023

V.A Strategy and implementation

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-002 EC-005 EC-006 EC-007 EC-009 EC-010 EC-012 EC-023

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-004: Competition and pricing pressure
R-012: Reputation and quality-claim substantiation

Follow-up questions

Provide data-room documents and management responses.

Distribution channels and GTM motions
item	public evidence	status	diligence request
Nurse app/job board	Homepage, app pages and app stores.	verified public channel	Installs, applications, credentialing conversion and CAC.
Facility/pricing/partnership channels	Facilities page, Credenza pricing, UKG and CareRev brand continuity.	partially_verified	Leads, bookings, partner pipeline and sales cycle.

Public marketing-signal summary
item	public evidence	status	diligence request
Newsroom and LinkedIn	2026 acquisition, 2024 CEO, 2023 UKG; LinkedIn 28,323 followers.	verified public signal	Engagement, inbound leads and conversion.
Positioning	Flexibility, W2, quality, credentialing and education messaging.	verified public messaging	Message/channel CAC and conversion.

V.B Major Customers

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-003

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-002: Revenue predictability and customer concentration
R-003: Clinician churn, retention and shift reliability

Follow-up questions

Provide data-room documents and management responses.

V.C Principal avenues for generating new business

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-003 EC-005 EC-007 EC-008 EC-011 EC-023

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-001: Financial quality and valuation support

Follow-up questions

Provide data-room documents and management responses.

Public GTM funnel with private conversion gaps Public channel stages; counts not disclosed.

V.D Sales force productivity model

not publicly verifiable confidence: low

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-003 EC-022 EC-023

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-001: Financial quality and valuation support

Follow-up questions

Provide data-room documents and management responses.

Sales productivity and pipeline requests
item	public evidence	status	diligence request
Quotas, attainment and sales cycle	Not public.	not_publicly_verifiable	Sales roster, comp plans, quota, attainment and CRM export.
Channel mix and CAC/payback	Channels visible; weights not public.	not_publicly_verifiable	Spend by channel, CAC, payback and partner-sourced bookings.

V.E Ability to implement marketing plan with current and projected budgets

not publicly verifiable confidence: low

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-003

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-011: Operational dependencies and vendor concentration

Follow-up questions

Provide data-room documents and management responses.

Chapter 06

06Research and Development

R&D signals center on AI matching/pricing, UKG, Credenza and CareRev integration.

EC-003 EC-008 EC-009 EC-010 EC-013 EC-014 EC-015 EC-025

VI.A Description of R&D organization

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-003 EC-009 EC-013 EC-014

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-009: Leadership transition, hiring and integration risk

Follow-up questions

Provide data-room documents and management responses.

Key R&D personnel and technology leadership signals
item	public evidence	status	diligence request
Matthew Levesque / David Coppins	CEO background and executive chairman/founder signals.	partially_verified	References, agreements and transition plan.
Engineering/product leaders	Not named in retrieved sources.	not_publicly_verifiable	Engineering org chart, roadmap owners and retention.

VI.B New Product Pipeline

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-008 EC-009 EC-010 EC-014 EC-015 EC-025

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-006: Privacy, security and sensitive workforce data
R-007: Product/integration execution and dependency

Follow-up questions

Provide data-room documents and management responses.

Public R&D and product pipeline
item	public evidence	status	diligence request
UKG integration	Announced April 2023.	partially_verified	Deployments, API SLAs and revenue attribution.
Credenza and CareRev integration	Credenza profile/employer products; CareRev acquisition.	partially_verified	Roadmap, migration, architecture and integration plan.

R&D and integration portfolio map Map of public R&D/product initiatives.

Chapter 07

07Management and Personnel

Public management evidence confirms CEO transition and LinkedIn scale anchors; HR data is private.

EC-003 EC-005 EC-009 EC-010 EC-012 EC-013 EC-014 EC-019 EC-024

VII.A Organization Chart

not publicly verifiable confidence: low

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-003 EC-005 EC-009 EC-013 EC-014 EC-024

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-009: Leadership transition, hiring and integration risk

Follow-up questions

Provide data-room documents and management responses.

Public management org chart Known public leadership and unknown org nodes.

VII.B Historical and projected headcount by function and location

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-012 EC-024

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-009: Leadership transition, hiring and integration risk

Follow-up questions

Provide data-room documents and management responses.

Headcount and hiring signals
item	public evidence	status	diligence request
LinkedIn company size	201-500 employees.	partially_verified	HRIS headcount by function/location.
LinkedIn employee profiles	2,096 profiles; may include former/contractor profiles.	partially_verified	Current employee/contractor roster and hiring plan.

Public headcount anchor chart LinkedIn company-size band vs profile count.

VII.C Senior management biographies

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-009 EC-010 EC-013

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-009: Leadership transition, hiring and integration risk

Follow-up questions

Provide data-room documents and management responses.

Senior management roster
item	public evidence	status	diligence request
Matthew Levesque	CEO and board member appointed July 2024.	verified public release	Employment agreement, comp and references.
David Coppins / investors	Executive chairman/founder signal and investor quotes.	partially_verified	Board rights, governance and founder role.

VII.D Compensation arrangements

not publicly verifiable confidence: low

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-019 EC-024

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-001: Financial quality and valuation support

Follow-up questions

Provide data-room documents and management responses.

Compensation, stock-plan, employee-relations and turnover gaps
item	public evidence	status	diligence request
Compensation and benefits	About page lists benefits/perks; comp not public.	partially_verified	Comp bands, exec agreements and bonus plans.
Equity, turnover and employee relations	Not public.	not_publicly_verifiable	Stock plan, grants, attrition, claims and settlements.

VII.E Incentive stock plans

not publicly verifiable confidence: low

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-003

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-001: Financial quality and valuation support

Follow-up questions

Provide data-room documents and management responses.

VII.F Significant employee relations problems, past or present

not publicly verifiable confidence: low

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-003

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-001: Financial quality and valuation support

Follow-up questions

Provide data-room documents and management responses.

VII.G Personnel Turnover

not publicly verifiable confidence: low

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-003

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-009: Leadership transition, hiring and integration risk

Follow-up questions

Provide data-room documents and management responses.

Chapter 08

08Legal and Related Matters

Public legal/regulatory evidence shows trademarks, certifications, OSHA inspections, privacy disclosures and dockets.

EC-001 EC-002 EC-003 EC-004 EC-005 EC-006 EC-007 EC-008 EC-009 EC-010 EC-011 EC-012 EC-013 EC-014 EC-015 EC-016 EC-017 EC-018 EC-019 EC-020 EC-021 EC-022 EC-023 EC-024 EC-025

VIII.A Pending lawsuits against the Company

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-019

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-008: Litigation/IP and trade-secret exposure

Follow-up questions

Provide data-room documents and management responses.

Pending or recent lawsuits against IntelyCare
item	public evidence	status	diligence request
Johnson v. Intelycare	Filed 2021-11-22; terminated 2022-04-08.	partially_verified	Complaint, settlement/dismissal and insurance treatment.
Thompson v. SSC Wexford	Complaint against IntelyCare and entries in 2024 snippets.	partially_verified	Full docket, claims, status and reserves.

VIII.B Pending lawsuits initiated by Company

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-003 EC-019

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-008: Litigation/IP and trade-secret exposure

Follow-up questions

Provide data-room documents and management responses.

Lawsuits initiated by or related to IntelyCare
item	public evidence	status	diligence request
SmartLinx Solutions LLC v. Zeif	IntelyCare-related exhibits/defendants in trade-secret/employment context.	partially_verified	Full pleadings, orders, settlement and IP implications.
Company-initiated lawsuits	No complete public schedule.	not_publicly_verifiable	Plaintiff-side claims, collections, IP enforcement and threats.

VIII.C Environmental and employee safety issues and liabilities

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-017 EC-020 EC-021

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-005: Labor, staffing and healthcare regulatory compliance
R-013: Regulatory inspections and search completeness

Follow-up questions

Provide data-room documents and management responses.

Regulatory, accreditation and agency-action summary
item	public evidence	status	diligence request
Joint Commission / ANCC	Staffing certification and ANCC accreditation claims.	partially_verified	Certificates, scope, surveys and corrective actions.
OSHA / FTC / EEOC	Two OSHA inspections; FTC/EEOC snippets inconclusive.	partially_verified / inconclusive	Inspection details and counsel-run enforcement searches.

VIII.D Material patents, copyrights, licenses, and trademarks

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-018 EC-025

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-008: Litigation/IP and trade-secret exposure

Follow-up questions

Provide data-room documents and management responses.

Material IP and trademark assets
item	public evidence	status	diligence request
INTELYCARE / INTELYEDU / CREDENZA / SIMPLYSHIFTS	TrademarkElite lists nine IntelyCare trademark filings.	partially_verified	Official USPTO status, assignments and conflict search.
Patents/copyrights/software licenses	No reliable public list found.	not_publicly_verifiable	Patent search, code ownership, OSS inventory and invention assignments.

VIII.E Insurance coverage and material exposures

not publicly verifiable confidence: low

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-003

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-001: Financial quality and valuation support

Follow-up questions

Provide data-room documents and management responses.

VIII.F Material contracts

not publicly verifiable confidence: low

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-015 EC-016 EC-025

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-011: Operational dependencies and vendor concentration

Follow-up questions

Provide data-room documents and management responses.

Material contracts, insurance and privacy/security exposure matrix
item	public evidence	status	diligence request
Customer/partner/vendor contracts	Terms reference separate signed agreements; vendor categories in privacy policy.	not_publicly_verifiable	Material contracts, SLAs, DPAs and termination rights.
Insurance and privacy/security controls	Sensitive data and workforce/legal exposures visible; policies not public.	not_publicly_verifiable	Insurance, SOC 2, pen tests, DPAs, incident log and BCP.

VIII.G Regulatory agency problems

partially verified confidence: medium

Public evidence provides partial signals; private data-room records are required for complete diligence.

EC-001 EC-002 EC-003 EC-004 EC-005 EC-006 EC-007 EC-008 EC-009 EC-010 EC-011 EC-012 EC-013 EC-014 EC-015 EC-016 EC-017 EC-018 EC-019 EC-020 EC-021 EC-022 EC-023 EC-024 EC-025

Evidence gaps

Private records and direct confirmations are required.

Hidden risks

R-005: Labor, staffing and healthcare regulatory compliance
R-006: Privacy, security and sensitive workforce data
R-013: Regulatory inspections and search completeness

Follow-up questions

Provide data-room documents and management responses.

Legal and regulatory timeline Visible legal/regulatory/IP/accreditation events.

Top risk heatmap Heatmap plotting diligence risks.

Evidence

Evidence claims
ID	Claim	Status	Sources
EC-001	IntelyCare is publicly listed/described as a $1.10B private unicorn joined 2022-04-06.	verified high	SRC-001 SRC-002
EC-002	IntelyCare appears active in 2026 and was acquirer of CareRev, not acquired.	partially verified medium	SRC-003 SRC-011 SRC-013 SRC-030
EC-003	Audited financials, revenue, cash, debt, backlog, AR aging and forecasts are not public.	not publicly verifiable low	SRC-002 SRC-012
EC-004	IntelyCare markets an AI-based healthcare talent platform and job board matching nurses and care settings.	verified medium	SRC-009 SRC-012
EC-005	Facility products include staffing, credentialing, onboarding, education, W2 employer positioning, PBJ/reporting and support.	verified medium	SRC-005
EC-006	Nurse app serves RN/LPN/CNA roles with shift browsing, scheduling, weekly/DailyPay and W2 benefits claims.	verified medium	SRC-006 SRC-007 SRC-008
EC-007	App-store evidence shows active mobile presence and 4.2/5 from 1.2K Apple ratings.	partially verified medium	SRC-007 SRC-008
EC-008	Public customer/partner signals include facility testimonials and UKG partnership, but no revenue concentration.	partially verified medium	SRC-005 SRC-010
EC-009	IntelyCare announced a UKG Dimensions integration for internal, temporary, float, per-diem and contract staff scheduling.	verified medium	SRC-010
EC-010	IntelyCare acquired CareRev in January 2026 and said brands/services would continue.	verified medium	SRC-011
EC-011	LinkedIn public profile claims major scale: largest nurse-only job board, second-largest per diem staffing, shift every 30 seconds, 99% 5/5 ratings and 97% repeat-return.	partially verified medium	SRC-012
EC-012	LinkedIn lists Quincy, 28,323 followers, 201-500 company size, 2,096 employee profiles and founding year 2014.	partially verified medium	SRC-012
EC-013	Matthew Levesque was appointed CEO/board member in July 2024; David Coppins was Executive Chairman.	verified medium	SRC-009
EC-014	R&D/product signals include AI matching/pricing, UKG, Credenza verified profiles and CareRev integration.	partially verified medium	SRC-010 SRC-011 SRC-013 SRC-028
EC-015	Privacy notice discloses sensitive workforce, credential, background, payment and precise geolocation data processing.	verified high	SRC-013
EC-016	Terms state IntelyCare products/services may be under separate signed agreements and include account-security/use restrictions.	verified medium	SRC-014
EC-017	IntelyCare publicly claims Joint Commission certification and ANCC-accredited IntelyEdu education.	partially verified medium	SRC-015 SRC-005 SRC-029
EC-018	TrademarkElite lists nine IntelyCare trademarks including INTELYCARE, INTELYEDU, CREDENZA and SIMPLYSHIFTS.	partially verified medium	SRC-016
EC-019	CourtListener search shows IntelyCare-related dockets including Johnson, Thompson and SmartLinx-related matters.	partially verified medium	SRC-017 SRC-018 SRC-019 SRC-020
EC-020	OSHA search returned two IntelyCare inspection records in 2022 and 2023.	partially verified medium	SRC-021
EC-021	FTC and EEOC snippets did not surface named IntelyCare enforcement headlines, but this is inconclusive.	inconclusive low	SRC-022 SRC-023
EC-022	Competitors include Clipboard Health, ShiftKey, ShiftMed and Nursa in flexible healthcare workforce/staffing.	verified medium	SRC-024 SRC-025 SRC-026 SRC-027
EC-023	Public GTM channels include app/job board, facility demo/pricing, Credenza posting, UKG, LinkedIn/newsroom and CareRev brand continuity.	verified medium	SRC-003 SRC-006 SRC-010 SRC-011 SRC-012 SRC-028 SRC-030
EC-024	Compensation, stock plans, turnover and employee-relations records are not public beyond broad benefits and LinkedIn signals.	not publicly verifiable low	SRC-004 SRC-012
EC-025	Supplier concentration, cloud/payment/background/payroll vendors, insurance and material contracts are not public.	not publicly verifiable low	SRC-013 SRC-014

Sources
ID	Publisher	Title	Accessed
SRC-001	CB Insights	CB Insights Complete List Of Unicorn Companies - IntelyCare row	2026-06-12
SRC-002	IntelyCare / Wall Street Journal summary	WSJ summary: Janus Henderson backs IntelyCare at $1B valuation	2026-06-12
SRC-003	IntelyCare	IntelyCare homepage	2026-06-12
SRC-004	IntelyCare	About Us \| IntelyCare	2026-06-12
SRC-005	IntelyCare	IntelyCare Facilities	2026-06-12
SRC-006	IntelyCare	Download IntelyCare mobile app	2026-06-12
SRC-007	Apple App Store	IntelyCare - Nursing Jobs App - App Store	2026-06-12
SRC-008	Google Play	IntelyCare - Nursing Jobs - Google Play	2026-06-12
SRC-009	IntelyCare	IntelyCare appoints Matthew Levesque as CEO	2026-06-12
SRC-010	IntelyCare	IntelyCare introduces UKG technology partnership	2026-06-12
SRC-011	IntelyCare	IntelyCare acquires CareRev	2026-06-12
SRC-012	LinkedIn	IntelyCare \| LinkedIn	2026-06-12
SRC-013	IntelyCare	Privacy Policy \| IntelyCare Inc.	2026-06-12
SRC-014	IntelyCare	Terms of Use \| IntelyCare Inc.	2026-06-12
SRC-015	IntelyCare	Joint Commission \| IntelyCare Inc.	2026-06-12
SRC-016	TrademarkElite	IntelyCare trademarks owner page	2026-06-12
SRC-017	CourtListener	CourtListener IntelyCare search	2026-06-12
SRC-018	CourtListener	Johnson v. Intelycare docket	2026-06-12
SRC-019	CourtListener	Thompson v. SSC Wexford docket	2026-06-12
SRC-020	CourtListener	SmartLinx Solutions LLC v. Zeif docket	2026-06-12
SRC-021	OSHA	OSHA Establishment Search Results for IntelyCare	2026-06-12
SRC-022	Federal Trade Commission	FTC cases search for IntelyCare	2026-06-12
SRC-023	U.S. EEOC	EEOC search for IntelyCare	2026-06-12
SRC-024	Clipboard Health	Clipboard Health homepage	2026-06-12
SRC-025	ShiftKey	ShiftKey homepage	2026-06-12
SRC-026	ShiftMed	ShiftMed homepage	2026-06-12
SRC-027	Nursa	Nursa homepage	2026-06-12
SRC-028	Credenza / IntelyCare	Employer Pricing \| Credenza	2026-06-12
SRC-029	IntelyCare	IntelyEdu for Nursing Professionals	2026-06-12
SRC-030	IntelyCare	IntelyCare Newsroom Archives	2026-06-12

Disclaimer

This report is a public-evidence diligence snapshot, not investment advice. Important financial, legal, technical, and contractual facts remain non-public and should be verified directly with management and primary documents before any investment decision.