Bengaluru-based Instawork, a flexible staffing solution, announced that it raised USD 60 Million in a Series round. This funding round was led by Craft Ventures. With this round, the total funding amount raised is USD 100 Million.
The other participants Greylock, WndrCo, Corner Ventures, Four River Group, and Tilman Fertitta. The existing investors like Benchmark, Burst Capital, Spark Capital, GV, and SV Angel also participated.
As the result of the funding, Jeff Fluhr, partner, Craft General, will join as the board of directors of Instawork.
The startup has hiring plans for the country and intends to increase its workforce in the country in the upcoming months. Currently, 35 per cent of the company is from India.
“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 has never been more important,” Sumir Meghani, Co-founder and CEO, Instawork.
In a Press Statement, Instawork stated that the company’s business has accelerated dramatically over the past one and a half years as it adapted to the labour market effect of COVID-19.
The startup supports many sectors like warehouse logistics, food and beverage, and hospitality.
Across the US there are more than one million Instawork Professionals (Pros). These professionals find a shift that matched their skills, create a profile, and start working in under 24 hours.
The fresh funding will let the company continue expanding its footprints into new markets, industries and job categories, while also investing in more development and training to help professionals advance their careers.
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