INSTAWORK, THE LARGEST HOSPITALITY GIG MARKETPLACE IN THE U.S, RAISES $18 MILLION IN FUNDING FROM NEW INVESTORS, SPARK CAPITAL AND GV
THE NEW ROUND WILL ACCELERATE EXPANSION ACROSS THE UNITED STATES: NEW MARKETS INCLUDE PHOENIX, LAS VEGAS, AND CHICAGO
San Francisco, Calif. (May 22, 2019) - Instawork, the on-demand staffing app for gig workers and hospitality businesses, announces today that it has secured $18 million in new funding from new investors, Spark Capital, GV, and Burst Capital, with participation from existing investors Benchmark, Y Combinator, Tuesday Capital, and SV Angel. As part of the round, Nabeel Hyatt, General Partner at Spark Capital, will join the Instawork board. The new funding will be used to accelerate expansion across the United States.
Instawork, available on Android and iOS in English and Spanish, is currently focused on serving the needs of the hospitality industry, connecting thousands of Instawork Professionals and business Partners every day.
“The response to Instawork so far in San Francisco, Los Angeles, and San Diego has been very strong by both Professionals and our Partners,” said Sumir Meghani, CEO and Co-Founder of Instawork. “In fact, it has been so strong that we are using our new round of funding to quickly expand Instawork to more markets.”
Instawork is currently operating in San Francisco, Los Angeles, and San Diego and is launching in Greater Phoenix this month. Plans are underway to launch in Las Vegas and Chicago this summer. Instawork is now the largest hospitality gig marketplace in the United States.
"The current way hospitality staffing works is broken in ways that create chaos and uncertainty for the businesses and their workers," said Nabeel Hyatt, General Partner with Spark Capital. “From the moment we met Sumir and the team it was clear they had gone deeply native on the problem to design a solution that could unlock a tremendous amount of growth for the industry."
“Sumir and the Instawork team have taken a disciplined approach in building a marketplace that works for both their hospitality Partners and Professionals,” said Jessica Verrilli General Partner with GV. "We're excited to partner with the team as they launch new markets and expand Instawork across the country."
The top reasons Professionals come to Instawork are the flexibility around where and when they want to work, higher pay, and substantial shifts. In fact, over 50% of Professionals are referred by friends and family, and on average, Professionals make $140 a shift. The top reasons Partners come to Instawork are to find great talent quickly, and to create, manage, and schedule a flexible workforce at the touch of a button. Instawork Partners receive immediate feedback on their gigs with 97% matched with qualified Professionals within 24 hours. Instawork is very easy to use and Professionals and Partners can set up a free account in minutes.
“Instawork has given me the opportunity to make more money while pursuing my dream of opening my own business,” said Marcus Pickett, a San Diego Instawork Professional. “I have used a lot of staffing resources before and Instawork is by far the best when it comes to pay, flexibility and professionalism.”
“Instawork has assisted us in finding quality professionals on short-notice across our restaurant group,” said Joel Dixon, Rustic Canyon Family Director of Operations in Los Angeles. “Having the confidence that you can find experienced help quickly from a trusted source like Instawork is invaluable. It ensures our restaurants are running smoothly and it’s a seamless process for our chefs and managers.”
Those interested in learning more about Instawork and becoming an Instawork Professional or Partner should visit www.instawork.com or download the free apps.
Instawork (www.instawork.com) is the the on-demand staffing app for gig workers and hospitality businesses available on Android and iOS in English and Spanish. Thousands of professionals and partners use Instawork every day across the Bay Area, Los Angeles, San Diego, Phoenix, Las Vegas, and Chicago areas. Instawork is headquartered in San Francisco, California, and Bangalore, India. Instawork is a privately held company with the backing of prominent investors including Benchmark, Spark Capital, GV, Burst Capital, Y Combinator, Tuesday Capital, SV Angel, and Liquid 2 Ventures. For additional information and company images visit: www.instawork.com/about.