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Instawork Raises $60M To Invest In Artificial Intelligence, Optimizing How Businesses Connect With Skilled Hourly Workers

Jun 05, 2023•about 2 years ago

Amount Raised

$60 Million

San FranciscoSoftware

Investors

GreylockCraft VenturesSpark CapitalBenchmarkLarry Fitzgerald Jr.9 Yards CapitalTcv

Description

SAN FRANCISCO, CA / May 18, 2023 / Instawork, the leading platform for connecting businesses with skilled hourly workers, announced today it has raised $60 million in a Series D funding round led by TCV, with participation from new investors 9Yards Capital, Larry Fitzgerald Jr., and existing investors including Benchmark, Spark Capital, Craft Ventures, and Greylock. Bringing total investment to $160 million, the funding round allows Instawork 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.

Company Information

Company

Instawork

Location

San Francisco, California, United States

About

At Instawork, we’re driven by our vision to create economic opportunity for local businesses and skilled hourly professionals in communities around the world. With a growing number of hub cities across the country in the U.S., Canada, India, and beyond, we’re looking for top talent to help rapidly scale our high-tech and high-touch labor marketplace. Our accomplished and dedicated team is passionate about our mission and committed to crafting revolutionary products, all with the backing of our world-class investors, including Benchmark, Spark Capital, Craft Ventures, Greylock Capital, Y Combinator, and more!

FundzWatch™ Score

Medium Activity

Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

Tech investment trends