About Workmate
Workmate is a company based in Singapore (Singapore) founded in 2016 was acquired by PERSOL in October 2022.. Workmate has raised $10.7 million across 4 funding rounds from investors including Wavemaker Partners, PERSOL and Lendable. Workmate operates in a competitive market with competitors including Legion, WorkJam, smartstaff, Harri and Work Market, among others.
- Headquarter Singapore, Singapore
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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
*********
- Legal Name Helpster Pte. Ltd.
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Annual Revenue
$5.6 M91as on Dec 31, 2019
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Net Profit
$-2.46 M-35as on Dec 31, 2019
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EBITDA
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Total Equity Funding
$10.7 M (USD)
in 4 rounds
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Latest Funding Round
$3 M (USD), Series A
Sep 28, 2022
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Investors
Wavemaker Partners
& 6 more
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Employee Count
Employee Count
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Acquired by
PERSOL
(Oct 11, 2022)
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Funding Insights of Workmate
Workmate has successfully raised a total of $10.7M across 4 strategic funding rounds. The most recent funding activity was a Series A round of $3 million completed in September 2022. 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 4
- Last Round Series A — $3.0M
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First Round
First Round
(01 Jun 2017)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2022 | Amount | Series A - Workmate | Valuation | SEEDS Capital | |
| Jul, 2021 | Amount | Debt – Conventional - Workmate | Valuation |
investors |
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| Nov, 2019 | Amount | Series A - Workmate | Valuation | Atlas 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 Workmate
Workmate has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include Wavemaker Partners, PERSOL and Lendable. 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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Investments in early-stage technology companies are made by Wavemaker Partners.
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Founded Year | Domain | Location | |
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Government-backed fund investing in tech startups
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Founded Year | Domain | Location | |
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Early-growth stage tech and offline focused VC investing in geographies such as Asia
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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 Workmate
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
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 |
Financial Statements - Workmate
| 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 |
Workmate Comparisons
Competitors of Workmate
Workmate 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 Legion, WorkJam, smartstaff, Harri and Work Market, 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 |
Workforce management solutions are provided through intelligent automation technology.
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| domain | founded_year | HQ Location |
Hourly workforce schedules and communications are managed via software.
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| domain | founded_year | HQ Location |
Provider of workforce management platform for blue collar employee lifecycle management
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| domain | founded_year | HQ Location |
Recruitment and workforce management are offered for hospitality.
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| domain | founded_year | HQ Location |
Freelance management, payments, and reporting are facilitated by AI software.
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| domain | founded_year | HQ Location |
SaaS-based workplace management software for offices is delivered.
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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 Workmate
Frequently Asked Questions about Workmate
When was Workmate founded?
Workmate was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is Workmate located?
Workmate is headquartered in Singapore, Singapore.
Is Workmate a funded company?
Workmate is a funded company, having raised a total of $10.7M across 4 funding rounds to date. The company's 1st funding round was a Series A of $5.2M, raised on Jun 01, 2017.
What is the annual revenue of Workmate?
Annual revenue of Workmate is $5.6M as on Dec 31, 2019.
What does Workmate do?
Cloud-based suite solutions for contingent workforce management. The platform allows the recruiters to create a profile and post jobs by mentioning skills and experience and based on the skills the workers are screened, interviewed and also provide the employer to manage the workforce through the platform to schedule workforce, timesheet management, payroll management, attendance tracking, workforce analytics, etc. The companies using the product are Redbus, Ninja Xpress, JD Central, Krishna, Grab, Electronic City, etc.
Who are the top competitors of Workmate?
Who are Workmate's investors?
Workmate has 7 investors. Key investors include Wavemaker Partners, PERSOL, Lendable, SEEDS Capital, and Beacon VC.
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