As the country continues to work on what a post-pandemic normal looks like, businesses have shifted focus from damage control to reopening and recovery. Instawork is perfectly positioned to make a huge impact in a post-pandemic environment as businesses and professionals return to work.
Instawork has had incredible growth and recently announced a $60M Series C fundraise to rapidly expand its marketplace, connecting millions of skilled hourly professionals with local businesses who need their services. As Instawork continues to accelerate this expansion, we are excited to announce the acquisition of Drafted, a network recruiting platform that helps businesses hire by leveraging referrals.
Network referrals are one of the most reliable ways to find and hire qualified professionals, Instawork has seen this firsthand as the marketplace grew to over one million users, primarily through word of mouth.
Combining forces
Over the past few years, I've gotten to know Vinayak, Drafted co-founder and CEO, and as we discussed our companies, we quickly realized we shared the same mission and our solutions would work nicely together to create economic opportunities for local businesses and skilled professionals. While Instawork was building a platform for flexible staffing, Drafted was receiving inquiries from potential and current customers asking how they could leverage their technology to create a referral program for their hourly employees.
Vinayak and I decided it was time to combine efforts as Drafted technology could accelerate how we build the world's labor network for skilled hourly Pros and further long-term satisfaction on both sides of our marketplace. Most of all, from vision to values, we saw tremendous alignment between how we've built our teams and crafted our products.
Drafted technology and the team's expertise will enable Instawork to leverage artificial intelligence and machine learning to accelerate the growth of the company's pool of Pros with skilled hourly professionals. As a result of the acquisition and integration, Pros can easily share Instawork shifts with their network, further supporting the companies' shared missions to put Americans back to work and help businesses successfully reopen. Together, we will continue building the future of flexible work.
I'd like to officially welcome the Drafted team to Instawork, we are excited to continue our journey together!
Read the press release to learn more about the acquisition and how Drafted and Instawork will combine forces to put Americans back to work.
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