Latest News | Instawork Raises USD 60 Mn to Expand Work Marketplace

Mumbai, Jul 8 (PTI) Flexible staffing solution provider Instawork on Thursday that it has raised USD 60 million in Series C financing led by Craft Ventures for expanding into new markets and job categories.

With this, Instawork has raised a total fund of USD 100 million, the company said in a statement.

Besides Craft Ventures, Greylock, Corner Ventures, Four River Group, WndrCo, and Tilman Fertitta, owner of Landry's and the Houston Rockets, also participated in this round of funding along with the existing investors - Benchmark, Spark Capital, GV, Burst Capital, and SV Angel.

Craft General Partner, Jeff Fluhr will join Instawork's board of directors.

With its office in Bengaluru, Instawork also has hiring plans in India and aims to double its workforce in the country in the next few months.

Currently, India contributes about 35 per cent in the company's total employee base.

The new funding will allow Instawork to continue rapidly expanding into new markets, job categories, and industries, while also investing in more training and development initiatives to help hourly professionals advance their careers, the company stated.

“Our vision is to create the economic opportunities for local professionals and businesses that help everyone thrive. Balancing the demands of pandemic job recovery, security, and flexibility with the massive labour needs posed by a reopened economy has never been more important,” added Sumir Meghani, co-founder and CEO of Instawork.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)