What is WorkStep?
Founded in 2017 and headquartered in San Francisco, California, WorkStep operates in the human resources technology sector, specializing in workforce retention software. The company's platform is designed to assist businesses, particularly in the supply chain industry, with hiring and retaining essential workers. By addressing critical labor challenges, WorkStep aims to improve operational efficiency and reduce employee turnover for its clients.
How much funding has WorkStep raised?
WorkStep has raised a total of $35.5M across 2 funding rounds:
Series A
$10.5M
Series B
$25M
Series A (2021): $10.5M with participation from FirstMark Capital and Prolog Ventures
Series B (2022): $25M led by Prolog Ventures, Social Capital, NewRoad Capital Partners, Latitude Ventures, Quiet Capital, FirstMark Capital, and Engage VC
Key Investors in WorkStep
FirstMark Capital
FirstMark Capital is a venture capital firm that invests in technology companies. They are known for their focus on early-stage and growth-stage businesses, providing strategic guidance and capital to help founders scale their ventures.
Prolog Ventures
Prolog Ventures is a venture capital firm focused on startups promoting healthy living and sustainability, though their investment in WorkStep suggests a broader interest in operational efficiency and workforce solutions.
NewRoad Capital Partners
NewRoad Capital Partners is an operator-led investment firm specializing in high-growth companies within supply chain, logistics, and retail technology, indicating a strategic alignment with WorkStep's market focus.
What's next for WorkStep?
The recent major strategic investment positions WorkStep for accelerated growth and market expansion. This capital infusion is expected to fuel product development, enhance sales and marketing efforts, and potentially explore new industry verticals. The company's focus on retention software addresses a persistent challenge in the labor market, suggesting a strategic direction towards solidifying its position as a leader in workforce management solutions.
See full WorkStep company page
