HourWork, a Boston, MA-based a SaaS recruitment and retention platform for quick-serve restaurant (QSR) franchise owners, announced that it closed on $2.5 million in additional Series A
The round was led by MassMutual's MM Catalyst Fund (MMCF), which joins a noteworthy list of investors including Morgan Stanley's Next Level Fund, Positive Sum Ventures, and RelishWorks. This new funding complements HourWork's oversubscribed $10 million Series A funding round completed last month and brings the total Series A to raise to $12.5 million.
HourWork will use the funds to scale its customer success, sales, and marketing teams to service the explosive demand for the company's recruitment and retention solutions.
Company: HourWork Inc.
Raised: $2.5M
Round: Series A
Funding Month: June 2022
Lead Investors: MassMutual's MM Catalyst Fund (MMCF),
Additional Investors: Morgan Stanley's Next Level Fund, Positive Sum Ventures, and RelishWorks
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, 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 the demand for labor with workers who have certified skill sets in specific areas and are available to work. HourWork offers a new, better way to hire and retain hourly workers in today's understaffed world. Its recruitment and retention platform is used by more than 6,000 quick-service restaurant franchises across the United States.
Source: https://www.prnewswire.com/news-releases/hourwork-raises-additional-2-5-million-increasing-series-a-round-fund-raise-to-12-5-million-301560051.html