TeamBridge Raises $28M in Series B Funding To Drive Tech Innovation for the Hourly Workforce
SAN FRANCISCO--(BUSINESS WIRE)--Sep 16, 2024--
TeamBridge, the fastest-growing Workforce OS (workforce operating system) empowering hourly workforces, has raised $28M in a Series B round led by Mayfield, with participation from existing investors General Catalyst and Abstract Ventures.
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TeamBridge platform from an employee and admin view. (Photo: Business Wire)
The new funds will be used to accelerate the product and AI roadmap, enhance client services, and continue to scale its enterprise-grade infrastructure.
For organizations that rely on their workforce, their product is their people. The way they manage that workforce is the difference between a highly successful team and a failing organization. Today, the software market available to manage and empower this essential sector is full of legacy players and rigid solutions — with some companies still relying on pen and paper or spreadsheets for their unique processes.
TeamBridge is a workforce OS built by former Uber product and design leaders with the goal to automate businesses’ unique processes while providing frontline staff a self-service, Uber-like mobile experience. They provide the “lego blocks” needed to build out composable workflows and custom mobile apps — enabling businesses to win against competitors stuck with cookie cutter tools.
“Most tech companies are building for each other,” says Arjun Vora, Co-Founder and Co-CEO of TeamBridge. “We're building technology for the forgotten demographic: the hourly workforce. That's 60-70% of the world’s workforce. We’re bringing the technology revolution to those businesses — giving them a workforce OS to deploy their secret sauce at scale.”
“TeamBridge allows businesses to activate a tech-enabled workforce at a fraction of the cost and time it used to take. Our clients leverage a faster, more efficient, and more self-service toolkit to consolidate their markets and win business,” says Tito Goldstein, Co-Founder and Co-CEO of TeamBridge.
TeamBridge’s new approach unlocks organizations by giving them the tools to build the software they want, automating repetitive work, instantly enforcing policies, streamlining workflows for clients and employees with customizable self service tools, all delivered in an elegant workforce app.
The company has grown tremendously across sectors from Medical Staffing and Homecare to Warehouse Staffing and Hospitality since it launched in late 2022. They saw over 4x growth in 2023 alone and have already 2x’d again in Q1 2024. Businesses are using TeamBridge’s building blocks to create their own internal and client facing operating systems to drive efficiency and growth — supporting over 300k+ employees on the platform.
“TeamBridge is changing the way my team works. We used the TeamBridge OS to build our own app with our secret sauce embedded into it. I can now put my staff on revenue generating activities. In fact, we've reduced admin time by 60% since going live,” shared Nathan Halpern, CEO of Revv Staffing.
TeamBridge, founded by former Uber product and design leaders Arjun Vora and Tito Goldstein, is revolutionizing workforce management. Vora, who previously served as Uber’s Head of Driver Design, and Goldstein, formerly Uber’s Head of Product Design for Uber for Business, are joined by leads from Google, Airbnb, Meta, Notion, DoorDash, and Samsara. The team brings a wealth of experience in product development and design, aiming to transform how hourly workforces operate.
“TeamBridge supercharges businesses with hourly workforces by providing them with the first composable operating system to create customizable workflows to manage and empower this important but neglected demographic of the economy," said Sri Pangulur, Partner at Mayfield. “Businesses are able to optimize their bottom line, and front-line workers are offered more flexibility and income opportunities through TeamBridge’s software. We are thrilled to be leading TeamBridge’s Series B to partner with them to build the operating system of record for the hourly workforce."
TeamBridge is looking to double the size of its team in the next 6-12 months. Check out the open positions to join on the journey towards being the operating system of record for the hourly workforce.
About TeamBridge
TeamBridge democratizes the use and creation of modern solutions, for the people who never had it before. Its composable workforce OS brings the entire team into one place through a custom app. At the platform’s core is a robust AI — capable of replacing individual workplace tools by organizing and automating onboarding, scheduling, communication, time & attendance, reporting, pay, and more. Learn more: https://teambridge.com/
About Mayfield
For over 50 years, Mayfield has served as early investors to over 550 companies, leading to 120 IPOs and over 225 M&As. They invest in new companies at the ideation and early stages, primarily Seed, Series A, and Series B. Since 1969, Mayfield has raised 20 U.S. funds and currently has $3 billion under management. Learn more: https://www.mayfield.com/
View source version on businesswire.com:https://www.businesswire.com/news/home/20240916601172/en/
CONTACT: TeamBridge:erica@teambridge.com
Mayfield:natalieb@vscpr.com
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: CONSULTING DATA MANAGEMENT TECHNOLOGY PROFESSIONAL SERVICES SUPERMARKET DEPARTMENT STORES BUSINESS APPS/APPLICATIONS RETAIL SOFTWARE HUMAN RESOURCES
SOURCE: TeamBridge
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