TERN Group Raises $24M Series A to Fix the Global Healthcare Workforce Shortage With AI

September 10, 2025

TERN Group, the UK-headquartered AI clinical workforce platform, raised $24 million (£17.7 million) in a Series A funding round in September 2025, led by Notion Capital, with participation from RTP Global, LocalGlobe, EQ2 Ventures, Leo Capital, Presight Capital, Tom Stafford (co-founder of DST Global), the former chairman of NHS England, and the CEO of AXA Health. The round brings TERN's total funding to $33 million. The capital will be used to expand UK operations, deepen partnerships with NHS Trusts and care groups, accelerate development of TERN's Clinical AI Workforce platform including compliance automation and workforce planning capabilities, and expand into new geographies.

The global healthcare workforce crisis is well-documented and worsening. The World Health Organisation projects an 18 million healthcare worker shortfall by 2030, driven by ageing populations, increasing chronic disease burden, and years of under-investment in training pipelines across high-income countries. In the UK alone, the NHS spends more than £10 billion annually on locum and agency staff — a reactive, expensive substitute for sustainable workforce planning. The structural problem is clear: demand for healthcare is rising faster than domestic training capacity can address, and international recruitment — while essential — is typically slow, fragmented, and compliance-intensive. Healthcare systems that want to hire internationally face months of credentialling, language certification, regulatory clearance, and relocation logistics, all currently managed through manual processes and multiple intermediaries.

Founded in 2023 by Avinav Nigam and Krishna Ramkumar, TERN has built what it describes as the world's first AI Clinical Workforce Platform: an enterprise-ready system that integrates sourcing, credentialling, training, relocation, and settlement support into a single workflow, using AI to compress what previously took months into a predictable, compliant pipeline. The platform currently serves more than 650,000 healthcare professionals from 13 countries, connects them to over 100 global healthcare clients including 18 NHS Trusts, and is active in six markets: the UK, Germany, UAE, Saudi Arabia, Japan, and the US. TERN has reported ten-fold revenue growth in the past year, with annualised revenues approaching ₹200 crore.

The use of funds is targeted at capability deepening rather than simply geographic expansion. TERN is investing in AI-driven compliance automation — one of the highest-friction elements of international healthcare recruitment, where regulatory requirements vary by country, specialty, and employer — and in workforce planning intelligence that enables healthcare providers to build predictable multi-year supply pipelines rather than reacting to immediate gaps.

Notion Capital's lead on this round is noteworthy. Europe's leading early-stage B2B software investor, with over $1 billion under management and a portfolio including Currencycloud (acquired by Visa), GoCardless, and Mews, Notion has a thesis that TERN is building essential infrastructure rather than a conventional staffing business — a distinction that matters for valuation trajectory and competitive durability. The participation of two former NHS and healthcare senior executives as investors reflects confidence that TERN's product is genuinely solving problems that healthcare operators recognise.

Sources