Instawork, a San Francisco, CA-based staffing startup that connects hourly workers with businesses that need to fill shifts, has announced a successful $60 million Series D funding round, bringing its total raised to $160 million.
The round was led by venture capital fund TCV, with participation from new investor 9Yards Capital, Larry Fitzgerald Jr., and existing investors including Benchmark, Spark Capital, Craft Ventures, Greylock, Four Rivers Group, and GV.
Instawork plans to leverage the additional funding to further invest in its AI-powered mobile app and platform. The investment will drive the development of innovative features and interfaces, empowering businesses to efficiently manage their workforce and connect with skilled hourly workers.
By enhancing its AI-driven capabilities, the company aims to improve the connection between its partners and workers, ensuring the right skills match while prioritizing reliability and punctuality.
Company: Garuda Labs, Inc.
Raised: $60.0M
Round: Series D
Funding Month: May 2023
Lead Investors: TCV
Additional Investors: 9Yards Capital, Larry Fitzgerald Jr., Benchmark, Spark Capital, Craft Ventures, Greylock, Four Rivers Group, and GV
Company Website: https://www.instawork.com/
Software Category: Staffing Solution
About the Company: Founded in 2016, Instawork is a flexible staffing solution for local, hourly professionals. Its digital marketplace connects thousands of businesses and more than one million workers in the U.S., filling a critical role in local economies. Instawork helps businesses in food & beverage, hospitality, and warehouse/logistics industries fill temporary and permanent job opportunities in more than 25 U.S. markets. Instawork vision is to create economic opportunity for local businesses and professionals, globally.
Source: https://blog.instawork.com/instawork-invests-in-artificial-intelligence-to-optimize-how-businesses-find-the-workers-they-need