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Nowsta Secures $35M Series C, Unveils New Offering, Staffing Labs, for the Gig Economy

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First-of-Its-Kind Solution Launches the Most Robust Talent Network Available for the Flex Economy

BROOKLYN, N.Y., November 3, 2023-- Today, Nowsta, the technology company building the operating systems for gig workforces, announces a $35 million Series C round of financing. This capital injection coincides with the launch of Nowsta Staffing Labs, the biggest step yet toward transforming how employers source, hire and manage pools of contingent workers.

This latest round of financing, led by VMG Partners and joined by Builders VC along with existing Series B funders, brings Nowsta's total fundraising to $93 million. Nowsta plans to use this investment to enhance the advanced technology in Staffing Labs, further develop its AI-driven workforce management platform and continue to build out the executive leadership team that supports this technology.

"We continue to partner with Nowsta because they have a clear vision for the future and consistently deliver innovative solutions that improve today's labor market," said Carle Stenmark, General Partner at VMG Partners. "Nowsta is an industry leader when it comes to understanding what employers need to navigate an ever-changing workforce, and we look forward to seeing what the team builds next."

By partnering with these staffing companies, Nowsta Staffing Labs aggregates the largest marketplace of contingent labor nationwide, all available within the Nowsta platform for their clients to utilize. Having direct access to this larger and more diverse pool of qualified workers, Nowsta's clients can more easily find the right talent for their specific needs.

As part of Staffing Labs, agencies gain exclusive access to Nowsta's cutting-edge automation tools that utilize market data and company attributes to seamlessly connect agencies and their workforce with profitable jobs. Partners can go beyond the norm of operational efficiencies and enable their companies to grow via AI, ML and automation, making them leaders in this new era of flexible and dynamic work.

"With Staffing Labs, our focus is on enabling new models of flex work for staffing companies," said Nick Lillios, CEO of Nowsta. "Think of it as a powerful engine to not only streamline operations but to grow your business."

If you share Nowsta's values and dedication to delivering exceptional workforce solutions and would love to be considered for Staffing Labs pilot program, you can learn more here.

About Nowsta

Nowsta's vision is to be a global leader in flexwork and revolutionize the way in which employers source, manage and build pools of contingent workers and empower their workforce with economic opportunities on their terms.

About VMG Partners

VMG Partners is a leading private equity and venture capital firm focused on partnering with entrepreneurs and managers to support the growth and strategic development of transformative consumer brands and technologies. VMG currently invests through its Consumer and Technology funds. Since its inception in 2005, VMG has provided financial resources and strategic guidance to drive growth and value creation in over 60 companies.

Contact:
Ben Hasskamp
Director of Content Marketing
ben.hasskamp@nowsta.com

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