How Much Did Wonolo Raise? Funding & Key Investors

Wonolo has successfully raised multiple funding rounds, with the latest being a Series D round. The platform is backed by notable investors, including 137 Ventures and Franklin Templeton.

Keep reading to explore the intricacies of Wonolo's fundraising journey and the investors backing this innovative platform.

What Is Wonolo?

Wonolo is an on-demand staffing platform designed to help businesses fill their immediate labor needs. The company operates in the freelance, local, marketplace, and staffing agency industries. It is based in San Francisco, California, and has a workforce of 501-1000 employees.

Leveraging human expertise and advanced technology, Wonolo provides a responsive and customer-centric staffing solution. Their platform allows businesses to post jobs effortlessly, manage them conveniently, and find top performers. The company serves a wide range of U.S. markets and has a significant number of skilled workers and jobs posted on its platform.

How Much Funding Has Wonolo Raised?

1. Seed Round
   • Amount Raised: USD 2,200,000
   • Date: May 2015
   • Lead Investors: Foundry Group
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To develop the initial platform and validate the business model.
2. Series A
   • Amount Raised: USD 5,700,000
   • Date: January 2016
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the team and scale the platform to more markets.
3. Series B
   • Amount Raised: USD 13,000,000
   • Date: April 2018
   • Lead Investors: Sequoia Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance technology and expand market presence.
4. Series C
   • Amount Raised: USD 32,000,000
   • Date: November 2018
   • Lead Investors: Bain Capital Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To accelerate growth and improve platform capabilities.
5. Series D
   • Amount Raised: USD 138,000,000
   • Date: October 2021
   • Lead Investors: Leeds Illuminate
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To accelerate growth, innovate mobile-first technology, and expand market presence.

Total Amount Raised: USD 190,900,000. Current Valuation: Not publicly disclosed.

Key Investors

• Leeds Illuminate
  • Details: Leeds Illuminate is a growth equity firm that focuses on companies transforming education and workforce development. They have deployed over $3.3 billion in capital across various companies within the Knowledge Industries.
  • Investment Focus Areas: Education, workforce development, workforce access.
  • Notable Investments: Not publicly disclosed.
• Bain Capital Ventures
  • Details: Bain Capital Ventures is a venture capital firm that invests in early to growth-stage companies. They are part of Bain Capital, a global private investment firm.
  • Investment Focus Areas: Technology, healthcare, financial services.
  • Notable Investments: LinkedIn, DocuSign, Jet.com.
• Sequoia Capital
  • Details: Sequoia Capital is a venture capital firm that partners with founders to build enduring companies. They have a long history of investing in technology companies.
  • Investment Focus Areas: Technology, healthcare, consumer services.
  • Notable Investments: Apple, Google, Airbnb.
• Foundry Group
  • Details: Foundry Group is a venture capital firm that invests in early-stage technology companies. They focus on supporting entrepreneurs who are building the next generation of innovative companies.
  • Investment Focus Areas: Software, internet, consumer.
  • Notable Investments: Fitbit, SendGrid, Zynga.
• 137 Ventures
  • Details: 137 Ventures specializes in providing liquidity solutions to founders, employees, and early investors of growth-stage private technology companies. They focus on high-growth technology companies.
  • Investment Focus Areas: Growth-stage private technology companies, liquidity solutions for founders, employees, and early investors.
  • Notable Investments: Not publicly disclosed.

What's Next for Wonolo?

Wonolo stands at the cusp of significant growth opportunities, driven by the increasing demand for flexible work arrangements and the expansion of the gig economy. With a recent $138 million funding round, the company is poised to deepen its market presence in major U.S. cities and enhance its mobile-first technology. This expansion could potentially open doors to new job categories and international markets, further solidifying its position in the temporary staffing industry.

As Wonolo continues to grow, future fundraising opportunities seem likely to support its ambitious plans. The company may seek additional investment to scale its operations and incorporate more job categories, such as substitute teachers and technical roles. However, challenges such as competition from other staffing platforms, regulatory hurdles, and maintaining service quality as the platform scales will need to be navigated carefully.

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