Total amount raised
$89.6 Million
Latest funding date
11/01/2023
Location
Nowsta has successfully raised funds through 9 different rounds, with the latest being a Series C. The company is backed by 16 investors, including notable names like VMG Partners and Builders VC.
Keep reading to explore the intricacies of Nowsta's fundraising journey and the investors backing this innovative platform.
What Is Nowsta?
Nowsta, founded in Brooklyn, New York, is a technology company specializing in workforce management solutions. The company operates in multiple industries, including enterprise software, financial services, fintech, SaaS, and scheduling. With a workforce of 101-250 employees, Nowsta offers advanced scheduling, time tracking, and payroll integration services.
Nowsta's platform is designed to streamline the management of hourly and contingent workforces, providing features such as seamless payroll integration, smarter scheduling, and integrated time and attendance. The company aims to improve efficiency, reduce costs, and ensure compliance with labor regulations across various sectors like catering, hotels, higher education, and more.
How Much Funding Has Nowsta Raised?
- Series C
- Amount Raised: USD 35,000,000
- Date: November 2023
- Lead Investors: VMG Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the advanced technology in Staffing Labs, further develop its AI-driven workforce management platform, and expand the executive leadership team.
- Series B
- Amount Raised: USD 41,000,000
- Date: January 2022
- Lead Investors: GreatPoint Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market presence.
- Series Unknown
- Date: April 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing product development and market expansion.
- Series A
- Amount Raised: USD 8,100,000
- Date: April 2019
- Lead Investors: Green Visor Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand the customer base.
- Debt Financing
- Amount Raised: USD 1,000,000
- Date: February 2018
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide working capital for operational expenses.
- Series Unknown
- Amount Raised: USD 3,000,000
- Date: May 2017
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Non-Equity Assistance
- Amount Raised: USD 825,000
- Date: August 2015
- Lead Investors: Mastercard Start Path
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and market entry.
- Debt Financing
- Amount Raised: USD 665,000
- Date: April 2015
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide initial working capital for business operations.
- Series Unknown
- Date: January 2015
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and product development.
Total Amount Raised: USD 89,590,000. Current Valuation: Not publicly disclosed.
Key Investors
- VMG Partners
- Details: VMG Partners is a leading private equity and venture capital firm. They focus on partnering with entrepreneurs and managers to support the growth and strategic development of transformative consumer brands and technologies.
- Investment Focus Areas: Consumer brands, technology, strategic development.
- Notable Investments: Over 60 companies (specific companies not mentioned).
- GreatPoint Ventures
- Details: GreatPoint Ventures is a venture capital firm that invests in early-stage technology companies. They aim to support innovative startups with the potential to disrupt their respective industries.
- Investment Focus Areas: Technology, early-stage startups, innovation.
- Notable Investments: Not publicly disclosed.
- Green Visor Capital
- Details: Green Visor Capital is a venture capital firm that focuses on fintech and financial services. They provide strategic guidance and financial resources to help companies grow.
- Investment Focus Areas: Fintech, financial services, strategic growth.
- Notable Investments: Not publicly disclosed.
- Mastercard Start Path
- Details: Mastercard Start Path is an accelerator program by Mastercard that supports innovative startups in the fintech and commerce sectors. They provide mentorship, resources, and access to Mastercard's global network.
- Investment Focus Areas: Fintech, commerce, innovation.
- Notable Investments: Not publicly disclosed.
- Builders VC
- Details: Builders VC is a venture capital firm that invests in early-stage companies across various sectors. They focus on supporting startups that aim to solve complex problems through innovative solutions.
- Investment Focus Areas: Early-stage startups, innovation, problem-solving.
- Notable Investments: Not publicly disclosed.
What's Next for Nowsta?
With the recent $35 million Series C funding, Nowsta is poised to capitalize on the growing demand for efficient workforce management solutions. The launch of Nowsta Staffing Labs and the development of AI-driven platforms present significant opportunities to enhance their technology and expand their market reach. The U.S. contingent workforce market, accounting for nearly 40% of the total workforce, offers a substantial growth avenue.
Future fundraising efforts are likely as Nowsta continues to innovate and scale its operations. However, challenges such as competition from other HR tech companies and the complexities of scaling advanced AI technologies may arise. Navigating these hurdles will be crucial for Nowsta's sustained growth and success.
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