TeamBridge Secures $28 Million in Series B Funding to Revolutionize HR Software for Hourly Workers
TeamBridge, an HR tech startup founded by former Uber executives, has secured $28 million in Series B funding, led by Mayfield with participation from General Catalyst and Abstract Ventures, raising its total funding to $41.5 million. This San Francisco-based company aims to address the specific needs of hourly workers often overlooked by traditional HR platforms. By offering customizable workflows and a mobile app for managing schedules, time-off tracking, and onboarding, TeamBridge enhances employee engagement and simplifies HR tasks for employers. The new funding will drive product R&D and team expansion to support further growth and innovation, positioning TeamBridge as a key player in the evolving HR tech landscape.
In a significant move poised to reshape the HR tech landscape, TeamBridge, an innovative HR software company founded by former Uber executives Arjun Vora and Tito Goldstein, has announced the successful closure of a $28 million Series B funding round. The funding was led by Mayfield, with additional participation from General Catalyst and Abstract Ventures, bringing the total capital raised by TeamBridge to $41.5 million. This fresh injection of capital marks a pivotal moment for the San Francisco-based startup, which aims to transform the way companies manage and engage hourly workers.
Addressing the Unique Needs of Hourly Workers
TeamBridge was born out of a clear gap in the market: while most HR software solutions cater to salaried employees, there has been a noticeable lack of focus on the specific needs of hourly workers. Vora, a former Salesforce product designer, and Goldstein, Hyperloop’s former design lead, identified these gaps while working on the corporate side of Uber. They realized that many HR platforms weren’t equipped to handle the unique requirements of hourly staff, such as clocking in and out, managing shift schedules, and changing payment accounts.
To address these challenges, TeamBridge developed a comprehensive HR platform tailored specifically to hourly workers, combining automation with a user-friendly, self-service experience. Their solution not only simplifies HR processes for companies but also empowers employees by providing them with an app that allows for greater flexibility and control over their work schedules and tasks.
A Platform Designed for Modern Workforce Needs
TeamBridge’s platform is designed to provide businesses with the tools needed to efficiently manage and engage their hourly workforce. The core offering includes customizable templates and workflows that automate HR tasks such as onboarding, time-off tracking, and compliance management. Employees can access a mobile app — which companies can tailor to their own branding — to view and claim shifts, sign legal documentation, and communicate with managers in real time.
“We provide the ‘LEGO blocks’ needed to build out composable HR workflows and custom mobile apps,” says Arjun Vora, CEO of TeamBridge. “Our goal is to offer businesses a modern, flexible solution that can scale up or down based on their needs, much like the gig economy companies that are drawing away their talent.”
The platform’s adaptability and focus on automation have resonated strongly with the market. Since its launch, TeamBridge has attracted over 100,000 hourly workers to its platform and secured notable corporate clients, including Convo and Dairy Queen. This traction underscores the growing demand for HR technology that not only simplifies administrative tasks but also enhances employee engagement and satisfaction.
Impressive Growth and Market Impact
TeamBridge’s growth metrics speak for themselves. After launching, the company saw its revenue increase threefold in its first year and more than double again in the first half of 2024. “In times of high demand, our customers are looking for ways to help scale their organizations effectively,” explains Vora. “When there is a slowdown, they seek automation and efficiency gains to reduce costs. Our ability to do both allows us to position ourselves for whatever the current market needs.”
This strategic flexibility has enabled TeamBridge to establish itself as a serious contender in a competitive market that includes other HR software vendors such as Wingspan, Kronos, Deputy, and Homebase. However, what sets TeamBridge apart is its unique focus on creating a seamless experience for hourly workers and their employers, bridging the gap between traditional HR functions and the new demands of a gig economy workforce.
Preparing for the Next Phase of Growth
With this new round of funding, TeamBridge is well-positioned to continue its upward trajectory. The company plans to allocate the $28 million to product research and development (R&D) and expand its team from 42 employees to around 84 within the next year. This expansion will enable TeamBridge to accelerate its growth, enhance its platform capabilities, and better serve its expanding customer base.
“Our goal is to build a comprehensive platform that addresses all facets of hourly workforce management,” says Vora. “We’re focusing on developing new features that enhance productivity, simplify workflows, and provide our customers with the tools they need to thrive in a rapidly changing business environment.”
Looking Ahead: Innovation and Expansion
The HR tech industry is evolving, and TeamBridge is at the forefront of this transformation. The company’s commitment to innovation and customer-centric solutions positions it well to capture a significant share of the market. With support from prominent investors and a clear vision for the future, TeamBridge aims to redefine HR management for hourly workers, offering businesses a scalable, efficient, and user-friendly solution.
For companies navigating the complexities of managing an hourly workforce, TeamBridge offers a compelling proposition: a platform that not only reduces administrative burden but also enhances employee engagement and satisfaction. As the company continues to grow and innovate, it will be interesting to see how it shapes the future of HR technology for hourly workers.
With its latest funding round, TeamBridge has taken a significant step toward achieving its mission of revolutionizing HR software. As the company looks to the future, its focus will remain on creating solutions that meet the unique needs of the modern workforce, ensuring businesses can thrive in today’s dynamic and ever-evolving market.
For more information on TeamBridge and its innovative HR solutions, visit their website at TeamBridge.com.
