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TeamBridge, a startup founded by former Uber executives Arjun Vora and Tito Goldstein, has successfully raised $28 million in a Series B funding round led by Mayfield, with additional investments from General Catalyst and Abstract Ventures. This funding brings TeamBridge’s total capital raised to $41.5 million.
The company was established after Vora and Goldstein, both former Uber executives, identified a significant gap in the HR software market. While existing HR platforms were largely designed for salaried employees, they found that hourly workers lacked efficient tools for basic self-service tasks such as clocking in and managing payment accounts. This insight led them to develop TeamBridge, a platform specifically tailored for hourly staff.
TeamBridge aims to modernize HR processes for hourly employees by offering a self-service app experience. The platform automates various HR tasks and provides customizable templates and workflows for onboarding, time-off tracking, and other essential functions. Employees can use the app to view and claim shifts, complete legal documentation, and communicate with managers via text.
In addition to its core platform, TeamBridge offers advanced features for an extra fee, allowing companies to build out bespoke HR workflows and mobile apps. The company’s approach has already proven successful, with 100,000 hourly workers using the platform and corporate clients such as Convo and Dairy Queen.
TeamBridge’s revenue has seen impressive growth, increasing threefold in the year following its launch and more than doubling again in the first half of 2024. This growth underscores the platform’s ability to adapt to varying market demands, providing both scalability in times of high demand and cost efficiency during slowdowns.
The recent funding will be directed towards product research and development as well as expanding TeamBridge’s team, currently consisting of 42 members, to support its next phase of growth.