Overview

Instawork connects businesses with over 5 million vetted short-term, seasonal, and temp-to-hire workers through its online platform. This platform addresses the challenges businesses face in finding hourly workers, which traditional staffing agencies often struggle with. Instawork's intelligent matching system efficiently pairs businesses with suitable workers from its extensive database, ensuring that only reliable candidates are presented. The company has a rigorous vetting process that contributes to a high demand for its workers, with 93% of businesses wanting to rehire them and a low 2% no-show rate. Businesses can view worker profiles and experience before shifts, and those looking for full-time employees can also search and hire from Instawork's database. The company generates revenue by charging businesses for its services, and its importance grew during the pandemic, reinforcing its market position.

Simplify's Take

What believers are saying

• Post-pandemic demand for flexible work solutions boosts Instawork's market relevance.
• Acquisition of Able Jobs expands Instawork's tools and global market offerings.
• Expansion into Phoenix and Savannah captures regional demand for flexible staffing.

What critics are saying

• Competition from gig economy platforms like Wonolo and Bluecrew is increasing.
• Regulatory scrutiny over worker classification could impact Instawork's business model.
• Economic downturns in hospitality may reduce demand for hourly workers.

What makes Instawork unique

• Instawork offers an automated matching solution for hospitality professionals and businesses.
• The platform connects businesses with over 5 million vetted short-term and seasonal workers.
• Instawork's intelligent matching system ensures high demand and low no-show rates.

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Funding

Total Funding

$144M

Below

Industry Average

Funded Over

4 Rounds

Notable Investors:

BenchmarkGreylock PartnersCraft VenturesSV AngelY Combinator

Notable Investors:

BenchmarkGreylock PartnersCraft VenturesSV AngelY Combinator

$60,000,000

Series D

May 2023

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.

Series D Funding Comparison

Below Average

Industry standards

Ind Avg. $77M

$49M

$50M

$60M

$70M

$80M

$100M

View all funding stages