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

BROOKLYN, N.Y., January 19, 2022 (Newswire.com) - Nowsta, a technology company building the operating system for hourly, gig, and flex workforces, today 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.

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.

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. 

About Nowsta

Nowsta powers some of the largest employers in professional sports, hospitality, staffing and more. The company provides a comprehensive set of tools for employers to find, manage and pay hourly staff, and offers employees better ways to find work, organize new and existing shifts, and get paid faster. Nowsta's mission is to automate, simplify, and humanize the labor-management process, and in doing so, to create a more seamless and empowering work experience for both employers and employees. 

Nowsta is headquartered in Brooklyn, NY, with additional offices in Miami, Nashville and Los Angeles. For more information on Nowsta's innovative operating system, visit the Nowsta website or reach out to [email protected]. 

Source: Nowsta