WorkStep, a San Francisco, CA workforce hiring and retention platform for the supply chain, announced that it raised $25 million in Series B funding to combat the workforce shortage by transforming how enterprises hire and retain frontline workers. The investment brings its total capital raised to $42 million.
The round was led by NewRoad Capital Partners, with participation from Prologis Ventures, FirstMark Capital, Social Capital, Quiet Capital, Latitude Ventures, and Engage VC.
WorkStep will leverage the investment to scale its platform, grow the team and help more hourly workers find rewarding careers and employment opportunities.
Company: Workstep Inc.
Raised: $25.0M
Round: Series B
Funding Month: January 2022
Lead Investors: NewRoad Capital Partners
Additional Investors: Prologis Ventures, FirstMark Capital, Social Capital, Quiet Capital, Latitude Ventures, and Engage VC
Company Website: https://www.workstep.com/
Software Category: Workforce hiring and retention platform
About the Company: WorkStep is the leading provider of Frontline Workforce Retention (FWR) solutions purpose-built for the modern supply chain. WorkStep HIRE and RETAIN solutions provide HR, operations, finance, and c-suite executives what they need to hire frontline workers, engage them throughout their employment journey, and seamlessly act on critical insights to drive organizational change and ultimately reduce turnover. WorkStep customers include hundreds of manufacturing, warehousing, retail distribution, and transportation employers across North America –– including regional 3PLs and manufacturers. With a distributed team across the U.S., WorkStep plays a critical role in keeping the country moving forward by making the sector a better place to work for employers and employees alike.
Source: https://get.workstep.com/hubfs/Press%20Releases/WorkStep%20Raises%20$25M%20to%20Solve%20Supply%20Chain%20Labor%20Crisis.pdf