Shiftgig Raises $22M in Series B Financing to Fund Company’s National Growth
11/24/2015 – Chicago, IL – Shiftgig,the mobile marketplace that connects people with jobs on their smartphones, announced today it has completed a $22 million Series B financing. The round was led by Renren Inc. (NYSE: RENN) with participation from Chicago Ventures, DRW Venture Capital, GGV Capital, Garland Capital Group, KGC Capital, Pritzker Group, Wicklow Capital, and individual investors Fabrice Grinda and Match.com CEO Sam Yagan.
The capital will be used to scale the business to meet the fastgrowing demand for its digital marketplace that is making it easier and smarter to connect for short term work on a mobile device. The company will continue launching in new cities across North America, and investments will be made in sales, marketing, technology, and operations.
“The future of work is changing” said Eddie Lou, cofounder and CEO at Shiftgig. “People want to work on their own schedules and not just by driving a car. Likewise, today’s businesses require smarter options to optimize their labor force to meet their growing or seasonal business needs. With Shiftgig as the technology bridge between businesses and parttime workers, we are excited to fulfill our mission of connecting millions of workers to millions of shifts.”
The Shiftgig mobile app makes it easy for businesses to fill and manage short term job assignments. For people looking for extra shifts, Shiftgig offers the freedom to work where, when and for which businesses they like. Last month, the Shiftgig marketplace generated over 15,000 shifts worked in major US cities.
In the six months leading up to the financing, the company’s growth has been meteoric:
- 270 new clients were added.
- The number of Shiftgig Specialists has grown by 325%.
- Shiftgig opened in five new cities: Atlanta, Houston, Memphis, Miami, and Phoenix.
- The number of monthly shifts worked has more than tripled.
“We are impressed with the company’s growth and driven team,” said Joe Chen, CEO of Renren. “Shiftgig has become the industry leader in this massive market. We are excited to partner with them to scale their business.”
For more information on Shiftgig and its leadership team, visit www.shiftgig.com.
Shiftgig was founded on a simple principle: people should be able to work when, where and how they choose. By creating a peoplecentered marketplace that connects people to shifts on a mobile device, Shiftgig collects hiring manager requirements, worker skills and mobile data to enable smarter and more timely matches. Workers select shifts on their terms, choosing when, where and for which top local employers they want to work. Hiring managers get a tech powered solution that helps them manage business growth and seasonal labor challenges quickly and reliably so they have peace of mind that the right person is doing the right job – whether it is one person or 100.