Workstream Raises $48 Million in Series B

by Kay Aloha Villamor in August 27th, 2021

Workstream, a hiring platform and mobile app based in San Francisco, CA that simplifies the sourcing and onboarding of hourly workers, has raised $48 Million in Series B funding.

BOND and Coatue co-led the round, which brought the total funding raised to $60.5 million, with Founders Fund reinvesting and Eric Yuan, CEO of Zoom; Tony Xu, CEO of DoorDash; Ryan Smith, CEO of Qualtrics; Frederic Kerrest, COO of Okta; Basis Set Ventures; CRV; Peterson Ventures; GGV Capital; Jay-RocNation; and Z's Will Smith's Dreamers VC and others.

The funds will be used to expand the size of the company's staff, with numerous hiring in sales, marketing, and engineering, as well as to continue investing in expansion and product development.

Company: Workstream Inc.

Raised: $48.0M

Round: Series B

Funding Month: August 2021

Lead Investors: BOND and Coatue 

Additional Investors: Founders Fund, Eric Yuan, Tony Xu, Ryan Smith, Frederic Kerrest, Basis Set Ventures, GGV Capital, Jay-RocNation, and Z's Will Smith's Dreamers VC

Company Website: https://www.workstream.us/

Software Category: Recruiting platform

About the Company: Workstream is a recruiting platform and mobile app founded by three immigrants, CEO Desmond Lim, CTO Max Wang, and CPO Lei Xu. It automates the process of sourcing, screening, and onboarding front-line workers such as caregivers, nurses, delivery drivers, take-out restaurant staff, gas station attendants, and others. Chick-fil-A, Wingstop, and Jimmy John's franchisees are among the company's 10,000 outlets that serve more than 1,500 consumers.

Source: https://www.finsmes.com/2021/08/workstream-raises-48m-in-series-b-funding.html

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