I am excited to share that Instawork has raised $60M in Series C financing to help get America back to work and continue executing towards our vision to create economic opportunity for local businesses and professionals. This past year has been challenging as we have all navigated the global pandemic, but it has also reaffirmed Instawork is solving a critical gap in the labor market. The imbalance between the demand for and supply of labor is growing at an unprecedented rate. Both businesses and workers need a staffing solution that gives them greater flexibility, as evidenced by our nearly 9X growth in available shifts and a record number of workers downloading the app over the last several months. As a result, the pandemic has accelerated our expansion into new geographies and categories and confirmed the universal need for trusted, reliable, and flexible work arrangements.
Through it all, we're proud to support the 1 Million+ Instawork Professionals that rely on Instawork for economic opportunity. That includes Pros like Brandon in Austin, TX, who "almost lost hope" before earning through the app. Claudy in New York City, NY, was able to eliminate his credit card debt in just three months and got "an extra boost of confidence."
For businesses, our flexible staffing platform reassures entrepreneurs like Yve-Car Momperousse of Kreyol Essence that she'll have the labor she needs, so she can focus her time to "think through the company's future." We're helping hospitality businesses re-open and service their customers after a year of being dormant. Greg Stewart, General Manager at the Adrienne Arsht Center says of Instawork, "It's like living downtown and deciding that you don't need to own a car anymore because it is so easy to use Uber."
So what's next for Instawork? In addition to our rapid expansion, the new funding enables us to make bolder investments that support our vision. We want to help our Instawork community increase their long-term earning potential as a path to earn more sustainable income. We have seen early success in programs like in-app training modules for new Pros and leadership opportunities for experienced Pros, and are eager to expand them. You can read more about our plans here.
We wouldn't have achieved this milestone without all of our Professionals, Partners, community advocates, advisors, employees, and investors. We would also like to welcome all of our new investors to our journey, including Craft Ventures, Greylock, Corner Ventures, Four River Group, WndrCo, and Tilman Fertitta, owner of Landry's and the Houston Rockets.
If you are excited about our mission to create economic opportunities for local businesses and professionals, join our team, we're hiring all over the world. If you are a Pro looking for flexible work, sign up and download our app. And if you are a business that needs staff, learn more and post your first shift.
We still have lots of exciting work to do!
Instawork Professionals in NYC
