Temporary working capital

Wonolo swells with $ 138 million round

SAN FRANCISCOWonolo, an online platform that tries to disrupt the temporary staff industry, has raised a $ 138 million growth cycle, led by Leeds Illuminate with participation from 137 Ventures and G2 Venture Partners. Franklin templeton also went on tour. This latest round brings Wonolo’s total venture capital funding to over $ 200 million.

“As labor shortages continue, workers have more power than ever. We are seeing a dramatic shift in what workers look for when it comes to selecting job opportunities. Workers opt for flexible work which gives them a chance to further develop their transferable skills and access decent wage jobs on various sites, ”said Yong kim, CEO and founder of Wonolo. “I am delighted that new, mission-driven investors are joining us to help raise the bar for workers around the world. Wonolo’s next phase of growth will drive this evolution to bring more flexibility, a level playing field and fulfilling jobs to all workers.

To date, over a million workers, “Wonoloers,” have used the Wonolo mobile app to find jobs that match their needs and schedules, and have earned hundreds of millions of dollars. Workers stress the freedom to decide when and where to work as a key benefit of using Wonolo: “I lost my job at the company due to the loss of business due to COVID-19. I had no income since and my savings were drying up. I was starting to lose hope. I was about to become homeless, ”said Wonoloer Coy Nguyen. “Then my sister told me about Wonolo. I was able to register and start working immediately. Wonolo has helped change my life. I was able to pay my bills and I regained my self-confidence.

Increasingly, businesses across the country are grappling with unpredictability – from inconsistent consumer demand, to labor shortages, to supply chain challenges. Thousands of businesses use Wonolo’s platform to help solve these issues by connecting with workers who want and are ready to provide flexible support. The company has experienced record growth this year in industries such as retail, manufacturing, distribution, order fulfillment and hospitality. Wonolo customers include Uniqlo, Aramark, Peloton and Driveline Retail.

“The world of temporary work is huge, generating more 500 billion dollars in annual worldwide turnover. We see Wonolo as the leader in disrupting this space and delivering a flexible, technology-driven solution that helps businesses and workers, ”said Stephanie Nieman, Managing Director of Leeds Illuminate. “We are struck by the thinking with which Wonolo was able to create a company that puts workers first and innovates with organizations to solve real workforce problems in many sectors. As part of the tour de table, Nieman was appointed to Wonolo’s board of directors.

The funds will be used to accelerate the company’s continued growth and mobile-centric technological innovations. The company will also continue to develop in the markets through United States – and deepen its market share in the main markets including: Newark, Dallas, Atlanta, New York City, Chicago, Phoenix, Nashville, Tampa, San Antonio, Miami, Columbus, Austin, Houston, Raleigh, Indianapolis, Denver, Seat, Salt lake city, and Philadelphia cream.

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