Nowsta Raises $41 Million in Series B Funding to Reimagine the Way Employers Build and Deploy Hourly Workforces

Nowsta, a technology company building the operating system for hourly, gig, and flex workforces, announces a $41M Series B round of financing led by GreatPoint Ventures, and joined by VMG Catalyst, Rally Ventures, Tribe Capital, and existing investors Green Visor Capital, Compound Ventures, and Clocktower Technology Ventures. This latest funding round will be used to help Nowsta scale operations across 25 new U.S. markets, double the size of the current team, and continue to drive innovation within Nowsta’s platform offerings.

HR Technology News: Dr. Evelyn R. Carter Named President of Paradigm, World’s Leading DEI Company

Nowsta’s platform combines workforce management tools, like automated scheduling, real-time analytics, and streamlined time-tracking, with an on-demand labor marketplace that connects employers to a skilled pool of workers sourced by trusted third-party staffing providers. Together, the combination of these tools provide companies with a platform through which they can build, manage, and deploy a hybrid workforce, composed of both direct hires and flex or contingent workers.

“Employers are struggling to grapple with the complexities associated with finding and managing hourly workers, and the pandemic has only served to exacerbate these challenges. We’re redefining the way employers think about and approach workforce management, by giving them the tools they need to provide their employees with a more empowered and engaging work experience,” said Nick Lillios, CEO of Nowsta.

HR Technology News: Beating the Great Resignation: Cresta’s Attrition Report Shows How AI-Driven Coaching Benefits the Contact Center Agent Lifecycle

With Nowsta’s web and mobile app, workers are given a more engaging and transparent work experience and have access to a multitude of functionalities that help them do their jobs, such as shift scheduling, hours tracking, and paycheck review. Workers also have the ability to control their payroll cycle with Nowstapay, which lets people access their paycheck the moment they clock out of their shift.

“The last two years have caused a paradigm shift in the labor marketplace, and hourly and flex work are becoming ever more prevalent. Businesses of all types now must connect easily with, and manage efficiently, their on-demand workforces. The most effective way to do that is with Nowsta, and we couldn’t be more excited to be partnering with Nick and the team to help achieve this vision,” said Ashok Krishnamurthi, Managing Partner at GreatPoint Ventures.

Today, more than 300,000 workers across 600+ employers, from stadiums and hotels, to food services vendors and warehouses, have adopted this model of work and are managed on Nowsta every month.

HR Technology News: Enterprises Adopting Intelligent Service Management Tools to Improve Employee Satisfaction