A $60 million Series C fundraising round was completed by Instawork 60m series ventures, a San Francisco, California-based digital marketplace that links regional businesses with suitable individuals nationwide.
The round, which increased total funding to $100 million, was headed by Craft Ventures and included new investors Benchmark, Spark Capital, GV, Burst Capital, and SV Angel as well as Greylock, Corner Ventures, Four River Group, WndrCo, and Tilman Fertitta, owner of Landry’s and the Houston Rockets. Jeff Fluhr, a general partner at Craft, will join Instawork’s board of directors along with the funding.
The company plans to invest more in training and development programmes to help hourly workers enhance their careers while also using the money to continue expanding into new areas, job categories, and sectors.
Sumir Meghani, the CEO, founded Instawork in 2016 as a flexible staffing option for nearby hourly workers. Its digital marketplace links more than a million workers and thousands of businesses in the United States, playing a crucial role in regional economies. Businesses in the food and beverage, hospitality, and warehouse and logistics sectors may fill temporary and permanent job openings in more than 25 U.S. markets thanks to the company.
Professionals can register with Instawork to share their work history and skill sets and have access to a choice of short-term and long-term job possibilities that match their talents, schedules, and interests. The platform offers information on every opportunity, including assessments of the workplace and hourly salary, which is generally $18.