To Increase Work Market Place, Instawork Raises $60 Million In Series C Funding
- ByStartupStory | July 9, 2021
Flexible staffing solution startup Instawork raises $60 million in Series C funding led by Craft Ventures along with existing investors — Benchmark, Spark Capital, GV, Burst Capital, and SV Angel for expanding into new markets and job categories. So far, Instawork has raised a total fund of $100 million, the company officially announced. Talks are ongoing about Jeff Fluhr, Partner, Craft General, joining Instawork as board of directors. Other investors who participated in this funding round are Greylock, Corner Ventures, Four River Group, WndrCo, and Tilman Fertitta (Owner of Landry’s and the Houston Rockets). Instawork has its office in Bangalore, but they hope to expand throughout India, and consequently enhance their workforce.
“Our vision is to create the economic opportunities for local professionals and businesses that help everyone thrive. Balancing the demands of pandemic job recovery, security, and flexibility with the massive labour needs posed by a reopened economy have never been more important,” said Sumir Meghani, Co-founder and CEO, Instawork. Instawork supports several industries, including food and beverage, hospitality, retail, and warehouse logistics. There are now over one million Instawork Professionals (Pros) across the US, many of whom create a profile, find a shift that matches their skills and interests, and start working in under 24 hours. The new funding will allow Instawork to continue rapidly expanding into new markets, job categories, and industries, while also investing in more training and development initiatives to help hourly professionals advance their careers, it stated.
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