Over the next few weeks, Startup50 will profile a few of the startups that have earned their way into the Big 50-2016 Startup Report. Today, we look at Shiftgig, a well-funded startup that provides an online labor market for hourly workers.
Startup in the spotlight: Shiftgig
What they do: Provide an online on-demand labor marketplace that connects businesses with qualified, vetted workers.
Problem they solve: With 20 million Americans working in part-time jobs, the hourly worker market has expanded rapidly in the past few years. Typical hourly workers may desire to work additional shifts beyond their regular jobs, but most don’t know they how to properly hunt through Internet postings to find a good gig, one that is a great fit for them.
How they solve it: Businesses are able to connect to workers on the Shiftgig platform for food service, hotel, experiential marketing, retail, and warehouse jobs. Business managers have the ability to manage roster changes in real-time and communicate with each team member through their mobile phones, enabling seamless communication from start to finish.
Headquarters: Chicago, IL
CEO: Eddie Lou, previously a general partner with OCA Ventures and founder of PlanetHVAC.
Funding: $35M total, (the most recent $22M in a Series B) from Renren Inc, DRW Venture Capital, Chicago Ventures, Garland Capital Group, GGv, KGC Capital, The Pritzker Group, Wicklow Capital, and individual investors Sam Yagan and Fabrice Grinda.
Why they will be in the Big 50-2016: They’re backed by big VC investments, and as the economy increasingly shifts to gig work, Shiftgig is well positioned to take advantage of this trend. This is a crowded market sector, but for now anyway, it looks like a land grab.
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