About Instawork
Instawork is a company based in San Francisco (United States) founded in 2015 by Sumir Meghani.. Instawork has raised $148.12 million across 5 funding rounds from investors including WndrCo, TCV and 9Yards Capital. The company has 120 employees as of April 07, 2024. Instawork has completed 2 acquisitions, including Able Jobs and Drafted. Instawork offers products and services including Staffing Platform, Temporary Worker Service, and Permanent Worker Service. Instawork operates in a competitive market with competitors including Jobandtalent, Wonolo, Awign, Traba and smartstaff, among others.
- Headquarter San Francisco, United States
- Employees 120 as on 07 Apr, 2024
- Founders Sumir Meghani
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Sectors
Technology
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Instawork Services India Private Limited
- Date of Incorporation 29 May, 2017
- Jurisdiction Bangalore South, Karnataka, India
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Annual Revenue
$3.7 M (USD)69.35as on Mar 31, 2023
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Net Profit
$431.73 K (USD)72.61as on Mar 31, 2023
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EBITDA
$599.89 K (USD)70.05as on Mar 31, 2023
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Total Equity Funding
$148.12 M (USD)
in 5 rounds
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Latest Funding Round
$60 M (USD), Series D
May 18, 2023
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Investors
WndrCo
& 15 more
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Employee Count
120
as on Apr 07, 2024
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Investments & Acquisitions
Able Jobs
& 1 more
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Products & Services of Instawork
Instawork offers a comprehensive portfolio of products and services, including Staffing Platform, Temporary Worker Service, and Permanent Worker Service. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for businesses to hire workers for shifts and roles
Service for one-off events and seasonal staffing needs
Service for hiring full-time team members
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Funding Insights of Instawork
Instawork has successfully raised a total of $148.12M across 5 strategic funding rounds. The most recent funding activity was a Series D round of $60 million completed in May 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Series D — $60.0M
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First Round
First Round
(19 Aug 2015)
- Investors Count 16
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2023 | Amount | Series D - Instawork | Valuation | TCV | |
| Jul, 2021 | Amount | Series C - Instawork | Valuation | Craft Ventures | |
| May, 2019 | Amount | Series B - Instawork | Valuation | Spark Capital , Google Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Instawork
Instawork has secured backing from 16 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include WndrCo, TCV and 9Yards Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital is invested in global technology companies by TCV.
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Founded Year | Domain | Location | |
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Venture capital investments are offered to promising startups.
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Founded Year | Domain | Location | |
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Spark Capital is engaged in venture capital investments.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Instawork
Instawork has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Able Jobs and Drafted. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Online candidate assistance is provided through tools and training platforms.
|
2019 | ||||
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Employee referral network-based hiring platform
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2015 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Instawork
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Instawork Comparisons
Competitors of Instawork
Instawork operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Jobandtalent, Wonolo, Awign, Traba and smartstaff, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
On-demand staffing is enabled via a cloud-based matching platform.
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| domain | founded_year | HQ Location |
On-demand staffing platform is operated for job matching and shifts.
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| domain | founded_year | HQ Location |
On-demand internships are offered via a cloud-based platform across industries.
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| domain | founded_year | HQ Location |
Online platform for contract workforce recruitment
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| domain | founded_year | HQ Location |
Provider of workforce management platform for blue collar employee lifecycle management
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Instawork
Frequently Asked Questions about Instawork
When was Instawork founded?
Instawork was founded in 2015.
Where is Instawork located?
Instawork is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Who is the current CEO of Instawork?
Sumir Meghani is the current CEO of Instawork. They have also founded this company.
Is Instawork a funded company?
Instawork is a funded company, having raised a total of $148.12M across 5 funding rounds to date. The company's 1st funding round was a Series B of $18M, raised on Aug 19, 2015.
How many employees does Instawork have?
As of Apr 07, 2024, the latest employee count at Instawork is 120.
What is the annual revenue of Instawork?
Annual revenue of Instawork is $3.7M as on Mar 31, 2023.
What does Instawork do?
Cloud-based on-demand staffing platform for multi-industry. Candidates can search for jobs using keywords and location. Employers can use it to list positions, screen applicants, and schedule interviews. Food and beverage, warehouses, and event management are among the industries served. The platform offers solutions to a variety of businesses, including food, hospitality, warehouses, and restaurants.
Who are the top competitors of Instawork?
Instawork's top competitors include Jobandtalent, Wonolo and WorkWhile.
What products or services does Instawork offer?
Instawork offers Staffing Platform, Temporary Worker Service, and Permanent Worker Service.
How many acquisitions has Instawork made?
Who are Instawork's investors?
Instawork has 16 investors. Key investors include WndrCo, TCV, 9Yards Capital, Benchmark, and Spark Capital.
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