The online staffing firm Wonolo have closed a big money deal this week, taking their total funding up to a huge $60 million. The latest funding round comes in the form of a $32 million series C led by Bain Capital Ventures. This comes after their last series B funding round in April, $13 million led by Sequoia Capital.
The likes of Sequoia Capital, as well as other existing investors Base10, AMN Healthcare, and Cendana also took part in this series C funding. New investors DAG Ventures were also involved. Existing investors PivotNorth and Tuesday Capital were not included in this round.
Wonolo work in the just-in-time sector, offering clients access to an online marketplace or workers available at short notice. This allows them to bring in hourly part-time/freelance employees to a physical location.
Workers on the Wonolo platform are paid within days, rather than waiting weeks’ worth of payment period.
Companies can post potential job openings on the platform, with a list of the job type, hours needed, and how much the worker will earn. Wonolo charge a fee to the employers, which is added onto the work order.
Jobs may include deliveries, shelf stocking, shipping packages, and staffing events. Wonolo has 300,000 users on their platform, and customers include Coca-Cola, Papa Johns, and Uniqlo.
As part of the latest deal led by Bain Capital Ventures, Jamison Hill from the investing company will join Wonolo’s board of directors.
Wonolo are said to be using their new capital to invest in growing staff numbers at its HQ and nationwide satellite offices, as well as expanding local markets around the United States.
Wonolo’s co-founder and COO AJ Brustein told Staffing Industry Analysts: “We raised this money sort of opportunistically. Now it is really a time to accelerate our growth.”
The online staffing firm currently have their HQ based in San Francisco, but just opened up a second headquarters in Nashville. This is part of Wonolo’s aim to expand into new places and new markets in the near future.
Wonolo currently operate mainly in Northern and Southern California, but also do business in New York, New Jersey, Chicago, Dallas, Southern Florida, Atlanta, and Nashville.
They also want to spend some of the investment on new sales and account managers, as well as product-building engineers to expand the scale of the business.