HR platform Workstream extends Series B with additional $60m


Workstream, a mobile-first hiring and onboarding platform for the deskless workforce, has extended its Series B round with an additional close of $60m, bring the total raised in the round to $108m.

The round was led by Hans Tung, managing partner of GGV Capital, with strong participation from new and existing investors, notably Founders Fund, Coatue, BOND, Basis Set Ventures, CRV, WiL and Soma Capital.

Workstream’s end-to-end platform automates many of the recruiting and onboarding processes that can slow down hiring.

The company said this helps businesses with large deskless workforces fill open positions quickly.

Workstream said the funding will allow it to “double down” on its mission of serving the deskless workforce, which continues to flourish post-COVID and the Great Resignation. T

he company said business owners from more than 170 of the top quick-service restaurant (QSR) brands in the world, including Burger King, Dairy Queen and Jimmy John’s, along with leading brands outside of QSR, such as Marriott International, Ace Hardware, UPS and European Wax Center, are already finding success with Workstream’s platform.

Amy Parman, director of training & recruiting at Taziki’s Mediterranean Café, said, “With Workstream’s Hiring product, we’ve reduced our application to hire timeline down to about three days, which is fantastic for us. We saw a high this year of a 71% show rate for interviews, which is outstanding.

“Also, the Onboarding product has helped smooth out our applicant and manager experiences, by keeping everything in one place. There is really nothing that the employee has to provide, sign or complete outside of Workstream Onboarding.”

Earlier this year, Hibob, a tech-enabled HR platform, raised an additional $150m in Series D funding, bringing its total funding to $424m.

Founded in 2015, Hibob describes itself as “the modern HR platform for modern business.” The company offers a HR platform that helps dynamic teams of in-office and remote workers. Its tools include payroll, onboarding, time and attendance, compensation, and more.

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