Shiftsmart plans to use the funding to expand into new verticals, such as healthcare. Here are the top-line bullets you need to know:
Shiftsmart, an hourly worker marketplace, has raised $95M in a Series B round that drew participation from D1 Capital Partners, Imaginary Ventures, S12F, and Spieker Partners, among others.
HOW’S THE COMPANY PERFORMING?
- San Francisco-based Shiftsmart enables hourly workers to find and apply to jobs, manage their schedules across jobs, and gain access to training.
- At present, Shiftsmart serves several government and business organizations, such as the US Census Bureau, Google, Apple, Levi’s, Subway, Humana, Airbnb, and Hewlett-Packard.
- The startup has doubled its revenue and increased its headcount to 60 over the past year.
- Since its inception in 2015, the company has built a network of over 400K workers that spans 50 countries.
WHY DOES THE MARKET MATTER?
- The global workforce management software market is expected to reach a value of $10.6B by 2027, growing at a CAGR of 7.82%, according to Renub Research.
- The retail, education, healthcare, BFSI, manufacturing, and TMT industries have been increasingly adopting this technology in order to expedite operations and cut costs.
- The current labor shortage has increased the demand for solutions to connect employers with prospective employees.