Total amount raised
$89.6 Millions
Latest funding date
11/01/2023
Location
Nowsta has successfully raised $35 million in its latest Series C funding round, demonstrating strong investor confidence and providing significant capital for further development and expansion. The platform offers comprehensive solutions for scheduling, time tracking, and managing hourly workers, catering to various industries and types of employment.
Keep reading to explore the intricacies of Nowsta's fundraising journey and the investors backing this innovative platform.
What Is Nowsta?
Nowsta, founded in 2015 by Armand Patella and Nicholas Lillios, is headquartered in Brooklyn, New York. The company operates within the enterprise software, financial services, fintech, SaaS, and scheduling industries.
With an employee count ranging from 101 to 250, Nowsta offers a platform designed to manage various types of workers, including W-2s, 1099s, temporary, flex, and gig workers. The platform provides tools for scheduling, time tracking, communications, and reporting, leveraging advancements in machine learning and payments technology to enhance workforce management.
How Much Funding Has Nowsta Raised?
- Series C
- Amount Raised: $35M
- Date: November 2023
- Lead Investors: VMG Partners, Builders VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the advanced technology in Staffing Labs, further develop Nowsta's AI-driven workforce management platform, and expand the executive leadership team.
- Series B
- Amount Raised: $41M
- Date: January 2022
- Lead Investors: GreatPoint Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market presence.
- Venture Round
- Amount Raised: Not disclosed
- Date: April 2021
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing product development and market expansion.
- Series A
- Amount Raised: $8.1M
- Date: April 2019
- Lead Investors: Green Visor Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance product offerings.
- Debt Financing
- Amount Raised: $1M
- Date: February 2018
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide working capital for operational needs.
- Venture Round
- Amount Raised: $3M
- Date: May 2017
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and develop new features.
- Non-Equity Assistance
- Amount Raised: $825K
- 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: $665K
- Date: April 2015
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide initial capital for business operations.
- Venture Round
- Amount Raised: Not disclosed
- Date: January 2015
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the company and develop the initial product.
Nowsta has raised a total of $93M. The current valuation is Not publicly disclosed.
Key Investors
- VMG Partners
- Details: VMG Partners is a private equity firm that invests in consumer product companies. They have been involved in over 60 companies since their inception in 2005.
- Investment Focus Areas: Consumer brands, technology, transformative consumer products.
- Notable Investments: Not publicly disclosed.
- Builders VC
- Details: Builders VC is a venture capital firm that invests in companies transforming traditional industries through technology. They focus on early-stage investments.
- Investment Focus Areas: Technology, innovation, early-stage companies.
- Notable Investments: Not publicly disclosed.
- GreatPoint Ventures
- Details: GreatPoint Ventures is a venture capital firm that invests in transformative technology companies. They focus on early-stage and growth-stage investments.
- Investment Focus Areas: Technology, innovation, growth-stage companies.
- Notable Investments: Not publicly disclosed.
- Green Visor Capital
- Details: Green Visor Capital is a venture capital firm that focuses on financial technology companies. They aim to support innovative solutions in the fintech space.
- Investment Focus Areas: Fintech, financial services, technology.
- 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 and resources to help startups scale.
- Investment Focus Areas: Fintech, commerce, technology.
- 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 flexible workforce management solutions. The launch of Nowsta Staffing Labs presents a significant opportunity to revolutionize how employers source, hire, and manage contingent workers. This initiative aims to aggregate the largest marketplace of contingent labor nationwide, leveraging advanced AI and automation tools to streamline operations and enhance efficiency.
As the gig economy continues to expand, Nowsta is well-positioned to attract further investment to support its technological advancements and market expansion. The company’s focus on AI-driven solutions and strategic partnerships will likely draw interest from investors looking to capitalize on the burgeoning market for flexible staffing solutions. However, Nowsta will need to navigate challenges such as competition from other workforce management platforms and the integration of new technologies to maintain its competitive edge.
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