Hourly and WeSure merge

Hourly, a startup offering workers’ comp, time tracking, and payroll solutions, is merging with small business insurance provider WeSure Digital.

Hourly raised ~$39 million from several investors and one notable backer is MS&AD Ventures. WeSure is the US subsidiary of publicly traded insurance and technology group WeSure Global Tech, which is headquartered in Israel. WeSure has partnered with AmTrust Financial, which also invested in the company.

In addition to the merger, the combined company, which is valued at $53 million, announced $10 million in new funding. Hourly will become a wholly owned subsidiary of WeSure Global Tech, and Hourly shareholders will receive, upon completion of the transaction shares of WeSure US representing, on a fully diluted basis, approximately 49% of its issued and outstanding share capital. Hourly’s revenue for 2024 was approximately $3.5 million, according to media outlet Calcalist.

“The merger with WeSure Global Tech is an important milestone for Hourly. Tens of millions of dollars have been invested in developing our technology in recent years. We see this strategic move as an opportunity to deepen our focus on our core areas, payroll management and employee benefits, while also leveraging the synergies with the WeSure Group, including advanced technologies and extensive professional and managerial expertise, especially in the insurance sector, which we have come to know well in recent months.” – Tom Sagi, CEO of Hourly.

“The agreement with Hourly aligns with our strategy to expand our operations in the US through mergers and acquisitions. I believe that joining forces with Hourly will open us to a new customer base and enable us to offer a broader range of advanced insurance solutions, delivering added value to all parties involved in this transaction.” – Emil Vainshel, Chairman of WeSure Global Tech Group.