WONOLO – Staffing industry raises $32M in series ‘C’

by megan jones in funding on 21st November 2018

Wonolo, Work-Now-Locally is a business start-up, which developed a platform for both Employers and employees to fulfill their needs. Co-founded by Jeremy Burton, AJ Brustein and Yong Kim in 2014 with a motive to solve a pervasive problem of finding the right person for the right job. Wonolo helps its workers to get in contact and connect with the businesses that are required to team up quickly. Especially for labor based positions in fields like retail, shipping, merchandising, and manufacturing etc., 

Wonolo believes in the democratization of work – where given an opportunity to work, everyone can prove themselves and excel in their field. With feasibility for both Android and i-cloud, wonolo connects directly with hourly and daily based jobs from the best and biggest brands. In addition, it allows multiple features like- where, when and for whomever, a person wants to work.

Series C Funding

with a motive to expand its market by expanding its staff whether salaried or contracted, Wonolo has raised $32M through series ‘C‘ round. Bain capital ventures which usually leads its investments for the growth of tech startups is the lead investor. Other investors include Tuesday Capital, Sequoia Capital, DAG Ventures, Base 10, Pivot North Capital. With this addition of the new $32M, the total funding amounts to $52.9M.

Business Model

The main problem in today’s work culture is that the work atmosphere doesn’t usually foster excellence. Even the recent report from the Bureau of labor statistics has stated that the no. of open vacancies in the US has surpassed the no. of Jobseekers. These circumstances lead to the significant growth of wonolo since it’s establishment over four years sizing its business tie-ups with major markets in the country.


Of which Coco-Cola, Papa Johns, SHN, Uniqlo, Sunbasket, AMN healthcare etc., are few major clients.

Values Add’s

No upfront costs – Wonolo allows its users to pay only after the successful completion of Job.
Minutes away to help – The average time that takes in wonolo to fill a position is four minutes when compared to days, weeks and almost months for other staffing companies to fill even for a temporary or contract positions.
Fewer Costs – When compared to the traditional temporary staffing solutions, On-Demand Staffing costs almost 40% less.
Why Wonolo – The average filling rate is 90% when compared to that of 34% of many other temporary or contract staffing businesses.
Built for business– Wonolo has both HR and Legal compliance built-in.
Time Saver – It hardly takes few seconds for a user to post a job in Wonolo’s On-Demand staffing platform.
No Intermediates – Mostly for contract based jobs, people approach any staffing agencies which act as intermediaries between the main firm and the Person. Due to this bridge, there won’t be any direct interaction and relation with the direct firm. But with the advent of wonolo, the relation between the company and the person establishes and all the terms will be clear between both the parties.

Employer Perspective

From an institution or an employer perspective, Wonolo provides a platform where he can easily post the job including all the details like duration, pay, company identity etc., with just a click. So that the applicant will be aware of the perfect work and the targeted persons will approach instead of selecting from all kind of profiles. This system mainly helps during the holidays and festive times when the regular workers are not available and immediate requirement rushes in.

Job Seekers perspective
From a job seekers perspective, Wonolo creates a perfect match to their profile. Once the applicant posts the job there would be many suggestions popping up which makes them choosing easy and also from more reliable sources.

Conclusion

With a passion to solve the Underemployment Crisis, Wonolo has built a platform where workers can rely on Autonomy and Transparency and also where a person’s future is determined by their own merit. It also increases the flexibility to choose from multiple positions which fit better for their profile.

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