HourWork raises $10 million
HourWork, a SaaS recruitment and retention platform for quick-serve restaurant franchise owners, announced the closing of a $10 million Series A funding round. The round was led by Positive Sum, with participation from Permanent Capital, MassMutual’s Catalyst Fund, York IE, Impact Engine and OneValley Ventures.
Founded by CEO Rahkeem Morris and COO Rob Snyder in 2017, HourWork’s vision is to transform hourly work and the gig economy, providing employers with the ability to “dramatically improve applicant flow, eliminate retention challenges,” and match demand for labor with workers who have certified skillsets in specific areas and are available to work. The startup will use the funds to scale its customer success, sales, and marketing teams, as well as execute on planned product development initiatives that for both employers and employees across all industries.
“The pandemic uncovered a disproportionately negative effect on the lives of hourly employees as compared to the general public, as well as a massive talent shortage for employers. The dynamics of the hourly work economy have fundamentally and permanently changed, and this demands a new model for employers and employees. With this new round of capital, we will continue to drive breakthrough applicant flow and retention rates for QSR franchisees while investing in other initiatives that will not only benefit the QSR industry, but will be transformative across multiple industries that employ hourly workers.” – HourWork co-founder and CEO Rahkeem Morris.
“HourWork is enabling a platform that significantly improves the labor market for employers and hourly employees. The current challenges of recruiting and retaining talent present a unique opportunity to rethink how these businesses operate. Employees are the most critical resource in every business, and especially these frontline workers that represent a QSR to its customers day in and day out. That’s 80 million Americans that deserve more from their employment and careers.” – Sam Cates, Managing Director of Positive Sum.
