Deal: $20 million Series C
Investors: DRW Venture Capital, FJ Labs, GGV Capital, KDWC Ventures, and an affiliate of William Blair.
What they do: Shiftgig is a Chicago startup that connects businesses with hourly workers. Operating in the “gig economy,” Shiftgig gives people looking for work the ability to choose from thousands of available shifts at local companies in foodservice, hospitality, retail, experiential marketing, and warehouse jobs. In 2016, Shiftgig said it has doubled the size of its client base and increased revenue 3x year over year. It has worked with over 1,500 companies, and it helped Nike staff up brand ambassadors for last year’s Super Bowl.
“The success of Uber, Lyft, Postmates and other mobile consumer marketplaces has demonstrated that millions of individuals seek flexibility with their work schedules,” Eddie Lou, co-founder and CEO of Shiftgig, said in a statement. “Consumers aren’t the only ones taking advantage of labor service platforms, businesses are starting to think strategically about the future of workers. This funding will allow us to fulfill our mission of connecting businesses to millions of qualified, hourly workers seeking short term gigs.”
Other details: Shiftgig launched in 2012 and has now raised $56 million. It raised a $22 million Series B in November 2015. Sources told Tech Crunch that Shiftgig’s valuation is around $150 million post-money.
Image via Shiftgig