TeamBridge Secures $28 Million in Funding

September 18, 2024 – Workforce operating system TeamBridge has raised $28 million in a Series B round led by Mayfield, with participation from existing investors General Catalyst and Abstract Ventures. The new funds will be used to accelerate the product and AI roadmap, enhance client services, and continue to scale its enterprise-grade infrastructure. “Most tech companies are building for each other,” said Arjun Vora, Co-founder and co-CEO of TeamBridge. “We’re building technology for the forgotten demographic: the hourly workforce. That’s 60-70 percent of the world’s workforce. We’re bringing the technology revolution to those businesses — giving them a workforce operating system 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,” said Tito Goldstein, co-founder and co-CEO of TeamBridge. “Our clients leverage a faster, more efficient, and more self-service toolkit to consolidate their markets and win business.”
TeamBridge is a workforce operating system 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 building blocks” needed to build out composable workflows and custom mobile apps. “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 explains.
TeamBridge has recently 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 the first quarter of 2024. TeamBridge is looking to double the size of its team in the next 6-12 months.
“TeamBridge is changing the way my team works,” said Nathan Halpern, CEO of Revv Staffing. “We used the TeamBridge operating system 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 percent. since going live.”
TeamBridge was founded in 2017 by former Uber product and design leaders Arjun Vora and Tito Goldstein, is revolutionizing workforce management. Mr. Vora, who previously served as Uber’s Head of Driver Design, and Mr. 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.”
Investment Funding
Investors are pouring money into recruiting solutions businesses, especially executive search firms. Here’s a look at some other recent funding deals secured by these companies from the Hunt Scanlon Media archives:
Specialist recruitment company Metric Search has secured a multi-million-pound investment from BGF, one of the largest growth capital investors in the U.K. and Ireland. “Metric has achieved remarkable success in a short amount of time, and is well placed to capitalize on the dynamic, growing U.S. recruitment market through its high quality, specialist service,” said BGF investor Adam Huckerby, who will join the Metric board. “This is a great example of how BGF can support ambitious, high performing teams to fulfil their plans. We look forward to working with Joe and the team with the next phase of accelerated growth.” Founded in 2019 by Joe Jani (CEO) in New York, Metric Search has built a reputation as a search partner, sourcing skilled, technical talent in the life sciences and energy/infrastructure sectors. With its headquarters in Nottingham, the firm has offices in New York, London, and Florida.
ZRG, a global talent advisory firm and portfolio company of RFE Investment Partners, has secured $120 million in debt financing from Main Street Capital Corporation and its affiliates. “This significant funding will bolster ZRG’s growth initiatives and enhance its ability to deliver innovative talent solutions to clients worldwide,” the firm said. “It is a great time to acquire niche talent advisory and management businesses and build out our capabilities across executive search, interim, RPO, and consulting,” said Larry Hartmann, CEO of ZRG. “This additional financing from Main Street Capital, combined with our recent equity raise with a consortium of investors, positions us strongly to achieve our strategic objectives.” This latest round of financing will play a crucial role in supporting ZRG’s ongoing growth strategy. The firm plans to use the capital to continue acquiring high-quality businesses that complement its existing capabilities and continue to hire senior talent to drive further growth.
Fort Lee, NJ-based Stevenson Search Partners, a global life science executive search firm and a Hunt Scanlon Top 50 ranked search firm, has received a significant long-term investment from SixSibs Capital, a Milwaukee-based family-owned private investment company, in an effort to advance its expansion into a total talent solution company for the global life sciences market. The amount of the investment was not disclosed. “Stevenson’s long-term focus on quality, culture, diversity and partnership has been our driving force in providing leading-edge talent and services to our partners across the globe,” said Adam Bloom, president of Stevenson Search Partners. “We are thrilled with the opportunity to build on our foundation and grow our business with the support and collaboration of SixSibs Capital. Our ability to scale our capabilities is an important next step in our commitment to supporting the remarkable life science professionals who are dedicated to advancing medicines and improving lives.”
Related: Bullhorn Ventures Makes Investment in Staffing Engine
Contributed by Scott A. Scanlon, Editor-in-Chief and Dale M. Zupsansky, Executive Editor – Hunt Scanlon Media