Building the Operating System for the Gig Economy
Workers today are demanding a new level of flexibility, which affects how employees want to work, the way in which they’re scheduled and receive pay, and the overall makeup of a company’s workforce — a mix of seasonal, part-time and full-time staff.
Consequently, companies today have to adopt a flex model of work in order to meet the demands of a changing workforce, but this can be a nightmare for employers. Existing software is built on the premise of a 9–5 shift that assumes workers are in the same place every day, with no variance. There is a huge gap in the market to manage this new operational complexity.
Nowsta Founder and CEO Nick Lillios experienced this gap first hand while working as a consultant for a large food services vendor. It became clear that employers didn’t have the technology to manage these new types of workforces that consist of on-demand workers. Nick and his co-founder Moo Kim saw an opportunity to reimagine the way employers and employees approach this evolving workforce.
Nowsta is a work management platform built to hire, deploy and pay gig workers. It uses machine learning and payments technology to provide an all-in-one solution for hourly workers. Features include Nowsta Pay, which allows workers to access their wages instantly, and a labor marketplace that connects employees and employers.
Nowsta fits squarely into our Future of Work investment focus, which is a projection of how the way we work will continue to rapidly evolve and how both employees and employers use technology to maximize the advantages of this evolution.
Rally Ventures co-led Nowsta’s $41M Series B in December 2021 and they’ve seen explosive growth across industries like hospitality, food service, sports, distribution centers and more. They went from less than $1 million to $20 million in ARR in less than 24 months and are still growing well in excess of 200%YoY.
Nick and Moo are market and product visionaries who have put together an exceptional team to support this growth. Scott Gellman is a recent, pivotal hire who was brought on as COO to bring processes and discipline to the company as they quickly scale.