Endomag secures £15 million Series D funding
Endomag secures £15 million Series D funding

22 February 2023, ATLANTA — To continue addressing the skilled labor shortage, LaborWorx, a tech-enabled staffing business connecting industrial and construction industries with on-demand workers, has received USD 4.2 million.

“We think it shouldn’t be challenging to find demanding employment. But, the currently skilled labor scarcity is making it harder for crucial firms to finish projects on schedule and under budget, “said LaborWorx’s CEO and founder, Aaron Phillips.

By 2030, there may be 2.1 million unfilled manufacturing positions in the United States, according to Deloitte and The Manufacturing Institute. This lost employment may cost USD 1 trillion alone in 2030.

LaborWorx has created a new skilled worker marketplace that intuitively links understaffed businesses with certified specialists in a safe, effective, and economical way to solve the rising issue.

Guy Caldwell, Co-Founder and VP of Product, said:

 “The solution is meant to fill the best folks for the task based on talent, geography, rate, and availability.” The platform, he continued, “can stretch up and down with even the largest manufacturers, from specialist jobs to high-volume contingency teams.”

One of the earliest labor marketplaces created for skilled employees by skilled people, LaborWorx takes pleasure in this fact. Serial entrepreneur in the industrial construction sector, CEO Aaron Phillips, leveraged his 15+ years of trade expertise to create a workforce solution that might address the most significant difficulty facing his sector.

With the additional money, LaborWorx hopes to grow its current workforce in Georgia, strengthen its client acquisition efforts, expand its footprint in the Carolinas and Texas, and launch a mobile application this summer.

“As a company, we firmly commit to the workers we support. Because skilled tradesmen are frequently undervalued, we want to empower them by expanding their access to resources, technologies, and job possibilities, “co-founder and managing director Clay Barnett said.

Barnett continued that we can alleviate the labor scarcity faced by businesses in the industrial and construction sectors while enhancing the working environment.

LaborWorx, established in 2022, is transforming how businesses discover, employ, and pay on-demand labor. Our marketplace for skilled workers and mobile application safely, effectively, and affordably link businesses in need with qualified specialists.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.


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