HourWork Raises $10 Million in Series A  

by Kay Aloha Villamor in March 29th, 2022

HourWork, a Boston, MA-based SaaS recruitment and retention platform for quick-serve restaurant (QSR) franchise owners, announced the closing of an oversubscribed $10 million Series A funding round. 

The round was led by Positive Sum, with participation from Permanent Capital. All existing investors also participated in the round including MassMutual’s Catalyst Fund, York IE, Impact Engine, and OneValley Ventures. 

HourWork plans to utilize the fund to expand its customer success, sales, and marketing teams to keep up with demand for its recruitment and retention solutions,as well as to carry out planned product development initiatives that will transform hourly work and the gig economy for both employers and employees across all industries.

Sam Cates, Managing Director at Positive Sum, will join HourWork’s board of directors.

Company: HourWork Inc.

Raised: $10.0M

Round: Series A

Funding Month: March 2022

Lead Investors: Positive Sum

Additional Investors: Permanent Capital, MassMutual’s Catalyst Fund, York IE, Impact Engine, and OneValley Ventures

Company Website: https://www.hourwork.com/

Software Category: SaaS recruitment and retention platform

About the Company: Founded by CEO Rahkeem Morris and COO Rob Snyder, Hourworks is a recruitment and retention solution that helps match employers with top hourly talent, uncover what matters most to employees, and automatically check in at key milestones to prevent early attrition. Currently focused on solving applicant flow and retention challenges for QSR franchisees, HourWork has experienced explosive growth, adding 4,000 franchise locations to the platform in 2021 for a total of over 5,000 locations. HourWork’s franchisee customers represent some of the largest multi-unit operators across iconic QSR brands such as McDonald’s, Burger King, Taco Bell, Dominos, Wendy’s, White Castle, and many others. Its recruitment and retention platform is used by more than 5,000 quick-service restaurant franchises across the United States.

Source: https://www.hourwork.com/hourwork-raises-10-million-series-a-to-meet-hyper-demand-for-recruitment-and-retention-solutions-and-execute-on-a-transformative-vision-for-the-hourly-work-economy/

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