Instawork, a San Francisco, CA-based provider of a platform for connecting businesses with skilled hourly workers, raised $60M in Series D funding.
The round, which brought the total amount to $160M, was led by TCV, with participation from new investors 9Yards Capital, Larry Fitzgerald Jr., and existing investors including Benchmark, Spark Capital, Craft Ventures, and Greylock.
The company intends to use the funds to accelerate investment in its AI-powered mobile app and platform that connects over 4 million skilled hourly workers with tens of thousands of businesses.
Founded in 2016 and led by CEO Sumir Meghani, Instawork is a flexible work app for local, hourly workers. Its digital marketplace enables thousands of businesses in the food & beverage, hospitality, and warehouse/logistics industries to fill temporary and permanent job opportunities in more than 30 markets across the U.S. and Canada connecting them with more than four million workers.
The company will invest in additional AI-driven capabilities to connect its partners with workers, will be releasing new self-serve features, including user-friendly tools to post shifts in seconds, and custom, data-powered interfaces for easy workforce management.