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Venture Capital News: Workstream Adds $60M to Series B Round

2022-09-29
SAN FRANCISCO, CA, Workstream today announced it has extended its Series B funding round with an additional close of $60 million.
Workstream, the mobile-first hiring and onboarding platform for the deskless workforce, today announced it has extended its Series B funding round with an additional close of $60 million, bringing the total Series B financing to $108 million. More than two dozen investors are participating in the oversubscribed extension round, including both institutional funds and angel investors.

Led by Hans Tung, managing partner of GGV Capital, with strong participation from new and existing investors, notably Founders Fund, Coatue, BOND, Basis Set Ventures, CRV, WiL and Soma Capital. The financing enables Workstream to double down on its mission of serving the deskless workforce, which continues to flourish post-COVID and the Great Resignation.

Workstream is the mobile-first hiring and onboarding platform for the deskless workforce and, on average, reduces time to hire by 70%. Founded by three immigrants, CEO Desmond Lim, CTO Max Wang and CPO Lei Xu, the platform is used by more than 20,000 hiring managers in the U.S. and helps hire front line workers: caregivers, nurses, delivery drivers, take-out restaurant staff, gas station attendants, etc.
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