$300 million funding round at talent platform Workrise, plans new market expansion


Workrise, a talent platform that connects skilled laborers with infrastructure and energy companies, announced a $300 million series E funding round today.

The Austin, Texas-based company began in 2014 as a platform to match workers with the oil and gas industry. It has since broadened its business to serve companies and workers in the solar, wind, commercial construction and defense industries. The company changed its name to Workrise in February; it was previously RigUp.

“The shift to clean energy and a redoubling of investment in infrastructure are opening up jobs that are desperately in need of filling,” said Xuan Yong, Workrise co-founder and CEO. “Our platform makes it easier for skilled workers to find work and for companies to hire in-demand workers.”

Funds raised in this round will fuel expansion into new markets. Workrise presently serves more than 70 metro areas in the US and has more than 500 companies in its network.

Investment firm Baillie Gifford led the series E funding round. In addition, a new investor in the round was Franklin Templeton, which joined existing investors that include Founders Fund, Bedrock Capital, Andreessen Horowitz, Moore Strategic Ventures, 137 Ventures and Brookfield Growth Partners.

“Workrise’s online management platform is disrupting a sector that’s so far been slow to adopt new technologies,” said Dave Bujnowski, investment manager at Baillie Gifford. “What’s particularly inspiring is that it’s helping job seekers develop the skills required to succeed in an industry that is changing significantly.”

In one example, Workrise is training and matching workers with jobs in the wind industry in Broomfield, Colorado.

Workrise plans to place 100,000 workers in jobs by the end of 2023 and 1 million by the end of 2030.