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Hourly 27m Serieslundentechcrunch

Hourly 27m Serieslundentechcrunch Hey there, folks! We’ve got some seriously thrilling news to spill the beans on—we’ve hit the jackpot with a whopping $27 million! It’s like winning the lottery, but without all the scratch-off tickets.

This is a monumental achievement for our entire squad who’ve been sweating it out, and we’re absolutely tickled pink by the faith our old and new investors have shown in our dream of making workers’ comp and payroll an absolute breeze for everyone.

READ: Kubernetes 25m Series Coatue Managementhalltechcrunch

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The cool cats at Glilot Capital Partners led our Series A, and the party doesn’t stop there. We’ve got a full house of investors who’ve been with us from the get-go, and then some. Shoutouts to the OGs: S Capital, MS&AD Ventures, J-Ventures, and welcoming new kids on the block Vintage Investment Partners and Upshot, alongside a bunch of angel investors who’ve got our back.

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Okay, I know you’re thinking, “What in tarnation are they going to do with all that cash?” Well, brace yourselves, because we’re about to take the show on the road! We’re packing up our insurtech platform bags and heading out of California, spreading our wings to cover one-third of the U.S. population by the end of 2023. It’s all part of our grand vision to flip the script on the workers’ comp game, and by golly, it’s gonna be good. Read on to find out what’s cookin’ and how this all started.

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Now, let’s get down to business. If you’re a small business owner, you probably know the pain of dealing with workers’ comp. It’s like navigating a maze blindfolded, especially if you’ve got employees in high-risk jobs. Premiums, my friends, are the bane of your existence. They’re based on your yearly payroll guesstimates, and if you’ve got hourly employees, those ever-changing staff, hours, and pay rates make it a guessing game. It’s like trying to predict the weather in a place with four seasons in a day.

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But wait, there’s a savior in town—Hourly! We’re the trailblazers, the ones who let employers do their payroll, track time, and handle workers’ comp insurance premiums all in one place. Why is this the bee’s knees, you ask? Because we link payroll and workers’ comp like soulmates, so your premiums are based on actual payroll figures, not some wild guess from a fortune teller. Plus, our pay-as-you-go model means you only cough up cash for the coverage you actually use every pay period. Talk about a money-saver!

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Oh, we’re not stopping there. We’ve got plans, big ones. We’re talking more affordable coverage, easy-peasy claims filing, safety programs, and a bunch of other cool stuff—all right from our platform. We’re making workers’ comp smoother than a jazz sax solo.

You’re probably wondering how this whole Hourly shebang came to be. Well, hold onto your hats, ’cause it’s a wild ride. See, yours truly ran a construction company, and boy, was it a rollercoaster of stress. Manual payroll processing, dealing with timesheet mishaps, paying taxes, and the nerve-wracking annual workers’ comp insurance guessing game. It’s like juggling chainsaws and flaming torches while riding a unicycle.

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But I’m not a software guru, so I had to round up a bunch of geniuses to make my vision a reality. That’s where Shay Litvak, the tech wizard with over 20 years of experience, and Amir Faintuch, the tech entrepreneur extraordinaire, joined the party. We gathered our pennies, maxed out our credit cards, and cobbled together an amazing crew of software wizards and design maestros to build our platform.

In 2019, the stars aligned, and we raised a cool $7.15 million in seed funding. From that point, it’s been a whirlwind. We went from a small, scrappy team of 14 to a powerhouse of 90, onboarded a boatload of customers in California, and we’re still cooking up new ideas to improve our product.

Now, here we stand, a growing company with a mission to solve the same problems that haunted me in my construction days. We’re thrilled to take Hourly beyond California, making it a breeze for business owners all over the good ol’ U.S. of A to pay their team, track labor costs, and handle their workers’ comp insurance like a pro.

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We’re not doing this alone. Our customers have been our guiding stars. Their feedback has been our compass, showing us exactly what they need in a payroll and workers’ comp app. We’ve had a real chinwag with them and let me tell you, they’ve sung some pretty sweet praises about Hourly.

  • “Hourly saved us $45K on workers’ comp in 2019 alone. The technology is fantastic—it connects the dots between hours, payroll, and workers’ comp. I love it.” – Florentino Gonzalez, All Star Framing.
  • “This year we are saving $12K on workers’ comp, and with pay-as-you-go, I don’t have to worry about an audit bill.” – Richard Gill, A Touch of Stone.

New howl 27m highland capital partnersyurieff

So there you have it, folks! From building actual buildings to building an app with an epic team, it’s been a wild ride. Whether you’re in construction or any field with hourly workers, we’re here for you. Our $27 million Series A is our ticket to making workers’ comp and payroll a cakewalk.

Now, it’s over to you. If you’re already part of the Hourly family, keep that feedback flowing; it’s like gold to us. And if you’re new to the scene or just curious, schedule a free 15-minute demo and see what all the buzz is about. Trust us; it’s worth the hype!

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