The hourly workforce is a critical backbone of the global economy, representing ~60% of the U.S. workforce and ~70% globally. There are roughly 78 million hourly workers in the U.S. alone. For businesses like staffing agencies or long-term care providers, their product is their people, and how they manage them is their differentiator. Yet the software tooling to manage and empower this vital part of the economy has undergone little innovation for several decades, with some companies even still using pen and paper.
Enter TeamBridge, which has pioneered a composable workforce management software. Now, over 100,000 hourly workers have a unified software application to address their workflow needs. The company saw revenues grow 4x in 2023 alone and already more than 2x’d through the first half of this year.
TeamBridge’s composable Workforce OS provides custom building blocks so that its customers can create their own self-service app. Leveraging AI to streamline workflows, users unlock results and improve business decisions across their entire organization. Customers can automate repetitive tasks such as sourcing, onboarding, and managing talent. Automations— which act as “recipes”—are also built in to trigger key actions and behaviors, such as increasing shift fulfillment and decreasing labor fraud. AI assists in enhancing these processes by analyzing the data and context provided to automatically select or generate the desired outcome.
TeamBridge’s Co-Founders and Co-CEOs Arjun Vora and Tito Goldstein were both product design leaders at Uber and experienced firsthand the intricacies of effectively managing Uber’s global driver workforce. This experience inspired them to set out to enable any business to provide a delightful experience to their hourly workforce, improving their own bottom line while allowing workers more flexibility and income opportunities. As a firm that always looks at people first when evaluating a new investment opportunity, we immediately saw that Arjun and Tito are N of 1 Founders with deep domain expertise in this vertical.
Today, we’re thrilled to announce that we’re leading TeamBridge’s $28M Series B fundraise as they continue to add additional product offerings and expand horizontally and geographically. It’s one of the rare cases we have seen of a vertical SaaS company with horizontal attributes. We are thrilled to welcome them to the Mayfield family and to support this world-class team in going after the opportunity to be the operating system of record for the hourly workforce.
