Shiftsmart, a marketplace matching shift workers to employers, grabs $95M – TechCrunch


Holiday shopping season last week Some boring resultsHowever, employers still urgently need workers.

The tight labor market is partly “Mass retirementEmphasizes the need for more technology-enabled tools to connect employers with available workers.

ShiftsmartNew York-based HR management resource is the latest in investor love and series B in its HR management software that matches hourly workers in an open shift across different industries and roles. Bring $ 95 million in funding.

Since its founding in 2015, the company has accumulated a network of more than 500,000 workers in more than 50 countries, allowing employers to customize and reduce staffing needs, where they work, where they work. You can flexibly manage the amount of money and the speed of payment. turn over.

Shiftsmart founder and CEO Akash Kumar told TechCrunch: “It’s easy to create profiles, flip apps, and work when you need them. Gig economy was point-to-point logistics, but the ability to manage your schedule is , What we move forward. “

In the latest round of funding, Shiftsmart will be invested a total of $ 117 million. D1 Capital led the round with the participation of Imaginary Ventures, Spieker Partners, Oakridge Management Group, S12F, and several industry executives and institutions.

Jeff Leventhal, managing partner of S12F, believes in worker empowerment and how to handle it, and Shiftsmart’s approach not only gives workers day-to-day flexibility, but also works in different companies and different roles. I think I gave you the opportunity.

The days of shift work, “arriving at 2 pm or being fired,” are an outdated concept, “he said.

“One of the hardest things to understand right is the user experience, but Shiftsmart is taking the world to the next level,” he added. “The company is entering the market on its own. It’s difficult to build and function a marketplace, but Shiftsmart’s technology aims to be flexible for both employers and employees.”

Shiftsmart touts a customer list that includes Circle K, Humana, Deloitte, Airbnb, and the Small and Medium Business Administration. The company used to raise venture capital about three years ago, but considers the next round as revenues continue to double or triple each year, especially as employers face labor shortages more recently. It’s time to do it, Kumar said.

“We help employers expand the overall size of the market by breaking down work into shift levels,” he added. “The odds of finding someone who makes a three-hour shift several times a week are much higher than finding someone who registers 40 hours a week and gets paid every two weeks.”

The new funding will be used to expand its industry, including auditing and contracting, retail and global logistics, and to launch new industries such as healthcare. The company also offers additional employment. It currently has 60 employees, an increase from about 30 a year ago.

While many of the technologies built for staffing were centered around knowledge workers, many companies that focus on time workers, such as Shiftsmart, have also recently gained the attention of investors.

For example, in November, a messaging platform for shift sign-up. When i work Closed in a huge round — $ 200 million, fountain Brought $ 85 million, veteran Got $ 18.7 million for a tool for restaurant workers.Earlier this year we saw Home baseRaised $ 71 million earlier this year, WorkizFocuses on home service professionals and has raised $ 13 million.

With all that competition and a company that manages hourly workers in-house, Kumar said Shiftsmart’s differentiator is how to partner with Shiftsmart’s workforce or customers who can use their own platform. rice field.

“It’s an exciting time for business, and the global labor shortage makes it a big deal,” he added. “Our main focus is on how to expand our operations so that we can absorb demand and create more unique experiences for our workers as we learn more about their behavior.”

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