US-headquartered flexible staffing platform operator Instawork has raised $60m in a series C round backed by GV, a corporate venturing subsidiary of internet and technology group Alphabet.
Venture capital firm Craft Ventures led the round, which also fetaured Greylock Partners, WndrCo, Corner Ventures, Four River Group, Benchmark, Spark Capital, Burst Capital, SV Angel and private investor Tilman Fertitta.
Instawork runs an online platform that connects businesses across the food, hospitality and logistics sectors with flexible workers. The round increased its total funding to $100m and valued it at $560m according to Fortune.
The series C proceeds are set to help Instawork expand into new markets and invest in training and development programmes. It is also planning to double the headcount at its India-based operations over the next few months.
The company received $18m in a mid-2019 round featuring GV, Spark Capital, Burst Capital, Benchmark, Y Combinator, Tuesday Capital and SV Angel.
Instawork disclosed in $10m of funding across its seed and series A rounds from investors including Benchmark, Y Combinator, Tuesday Capital, SV Angel and Liquid 2 Ventures in 2018, $8.2m reportedly coming in a Benchmark-led series A.