Workstream, a mobile-first hiring and onboarding platform for remote workers has extended its Series B funding round by $60 million, bringing its total Series B financing to $108 million.

The funding will be used to enable the company to expand into new industries and develop new products for the increasing deskless workforce. Its customers include fast-food, quick service restaurants, including Burger King, Dairy Queen and Jimmy John’s and hotel chains such as Marriott International. It will also be used to expand R&D investment for its platform and offer extra services beyond its hiring and recently launched employee onboarding products.

The oversubscribed funding round included more than two dozen investors, both institutional funds and angel investors. It was led by Hans Tung, managing partner of GGV Capital, and included Founders Fund, Coatue, BOND, Basis Set Ventures, CRV, WiL and Soma Capital.

By including investors with new types of strategic industry experience, it should help Workstream expand into new verticals and improve expertise in existing sectors it works in the retail, hospitality, healthcare, warehousing and automotive sectors.

Workstream’s platform automates many recruiting and onboarding processes and helps businesses with large deskless workforces fill positions quickly.

“Workstream has seen tremendous momentum in the last year,” said Tung. “We’re excited to see Workstream continue to expand into new verticals, in particular the retail sector, which was profoundly impacted by COVID. 60% of the U.S. workforce does not sit at a desk to do their job, and we’re delighted to see Workstream continue to build technology to support this group.”

Post-Covid, the demand for flexible working is increasing as workers look for more flexibility to balance work with other areas of their life.

“With little easing of labor shortages, fierce competition for deskless workers and great demand to fill open spots at lightning speed, the need for our platform is increasing exponentially,” said Desmond Lim, co-founder and CEO of Workstream.

“We’ve grown 10x in the last 18 months and now serve more than 4,000 customers across 24,000 locations. This latest round of investment, coupled with the expertise of our strategic investors, will enable us to continue our planned expansion into new verticals and build new tools for the deskless worker, in support of the company’s future growth.”

 

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