About Workstream
Workstream is a company based in San Francisco (United States) founded in 2017 by Ruoyu Max Wang, Desmond Lim, and Lei Xu. It operates as a SaaS (Software-as-a-Service). Workstream has raised $118 million across 3 funding rounds from investors including Nationwide, Gold House and Hans Tung. Workstream offers products and services including Hiring Platform, Payroll Solution, and Time & Scheduling. Workstream operates in a competitive market with competitors including Fountain, HourWork, Contra, HireArt and Jeevitam, among others.
- Headquarter San Francisco, United States
- Founders Ruoyu Max Wang, Desmond Lim, Lei Xu
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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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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$118 M (USD)
in 3 rounds
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Latest Funding Round
$60 M (USD), Series B
Sep 29, 2022
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Investors
Nationwide
& 39 more
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Employee Count
Employee Count
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Products & Services of Workstream
Workstream offers a comprehensive portfolio of products and services, including Hiring Platform, Payroll Solution, and Time & Scheduling. 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.
Hiring processes are streamlined for hourly workforce recruitment.
Payroll management is simplified for hourly employee payments.
Scheduling and time tracking are optimized for efficiency.
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Funding Insights of Workstream
Workstream has successfully raised a total of $118M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $60 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 3
- Last Round Series B — $60.0M
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First Round
First Round
(07 May 2020)
- Investors Count 40
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2022 | Amount | Series B - Workstream | Valuation | Hans Tung , GGV Capital | |
| Aug, 2021 | Amount | Series B - Workstream | Valuation | Bond Capital , Coatue | |
| May, 2020 | Amount | Series A - Workstream | Valuation | Founders Fund |
| 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 Workstream
Workstream has secured backing from 40 investors, including angel, venture fund, and institutional investors. Prominent investors backing the company include Nationwide, Gold House and Hans Tung. 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 investments in technology and defense sectors.
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Founded Year | Domain | Location | |
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Provider of an investment platform for various stages
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Founded Year | Domain | Location | |
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Early-stage technology investments are managed by Basis Set Ventures.
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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 Workstream
| 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 |
Financial Statements - Workstream
| 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 |
Workstream Comparisons
Competitors of Workstream
Workstream 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 Fountain, HourWork, Contra, HireArt and Jeevitam, 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 |
Users are connected to local experts via a chat-based app.
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| domain | founded_year | HQ Location |
Cloud-based platform for contract workforce recruitment
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| domain | founded_year | HQ Location |
A professional network for future jobs and skills is offered.
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| domain | founded_year | HQ Location |
Job applicants are pre-screened via online interviews simulating real roles.
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| domain | founded_year | HQ Location |
Blue-collar candidates are matched to employer jobs via algorithms.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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 Workstream
Frequently Asked Questions about Workstream
When was Workstream founded?
Workstream was founded in 2017 and raised its 1st funding round 3 years after it was founded.
Where is Workstream located?
Workstream is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Who is the current CEO of Workstream?
Desmond Lim is the current CEO of Workstream. They have also founded this company.
Is Workstream a funded company?
Workstream is a funded company, having raised a total of $118M across 3 funding rounds to date. The company's 1st funding round was a Series A of $10M, raised on May 07, 2020.
What does Workstream do?
Workstream is established as a comprehensive HR, payroll, and hiring platform tailored for the hourly workforce. Operations are streamlined through smart technology, enabling franchise and business owners to reduce labor costs and simplify tasks. Solutions are provided for industries such as restaurants, hospitality, automotive, healthcare, manufacturing, warehousing, and retail. Compliance with labor laws, scheduling, onboarding, and employee engagement are supported through integrated tools and AI-driven features like VoiceAI. Trusted by major quick-service restaurant brands, the platform ensures efficiency across multiple locations.
Who are the top competitors of Workstream?
What products or services does Workstream offer?
Workstream offers Hiring Platform, Payroll Solution, and Time & Scheduling.
Who are Workstream's investors?
Workstream has 40 investors. Key investors include Nationwide, Gold House, Hans Tung, Founders Fund, and Coatue.
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