AAA Wonolo raises $5.7m to meet funding demand

Wonolo raises $5.7m to meet funding demand

Wonolo, a US-based on-demand staffing platform backed by beverage producer Coca-Cola, has raised $5.7m in funding, according to a regulatory filing.

Founded in 2014, Wonolo operates an online service that businesses can use to find temp workers on demand.

Coca-Cola has provided $1.7m in convertible note financing to Wonolo, a graduate of its Coca-Cola Founders incubator initiative, and $700,000 of that capital is set to convert to equity in this round.

The startup subsequently received $2.2m in seed funding from venture capital firms PivotNorth Capital, CrunchFund and Foundry Group, as well as unnamed angel investors, at a $7.5m valuation in May 2015.

In addition to being a Coca-Cola Founders graduate, Wonolo also supplies the company with temp workers to complete menial jobs such as stocking shelves or filling coolers

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