HourWork, a Boston, MA-based SaaS recruitment and retention platform for quick-serve restaurant (QSR) franchise owners, raised $2.5m in additional Series A funding.
The round was led by MassMutual’s MM Catalyst Fund (MMCF), which joined Morgan Stanley’s Next Level Fund, Positive Sum Ventures, and RelishWorks. This new funding complements HourWork’s $10m Series A funding round completed in March and brings the total Series A raise to $12.5m.
The company intends to use the funds to scale its customer success, sales, and marketing teams.
Founded by CEO Rahkeem Morris and COO Rob Snyder, HourWork provides a recruitment and retention platform used by more than 5,000 quick-service restaurant franchises across the United States. Currently focused on solving applicant flow and retention challenges for QSR franchisees, HourWork has experienced explosive growth, adding 4,000 franchise locations to the platform in 2021 for a total of over 6,000 locations. Customers include franchisees of some of the largest multi-unit operators across iconic QSR brands such as McDonald’s, Burger King, Taco Bell, Dominos, Wendy’s, and many others. The company has also recently expanded its market outside of the QSR industry with the addition of Sodexo and others to its customer roster.
In addition to the new funding, Carla Harris joins HourWork’s Board of Directors as an observer. She is the senior client advisor at Morgan Stanley and serves as the co-portfolio manager of the Next Level Fund, which invests in primarily early-stage technology and technology-enabled companies with women or diverse members as part of the founding team. Harris also serves on the board of directors for Walmart, Cummins Corporation, and MetLife.
FinSMEs
03/06/2022