HourWork Increases Fund Raising to $12.5M by Series A Round


hourwork

HourWork, a Boston, MA-based SaaS recruitment and retention platform for quick-serve restaurant (QSR) franchise owners, raised $2.5m in additional Series A funding.

The round was led by MassMutual’s MM Catalyst Fund (MMCF), which joined Morgan Stanley’s Next Level Fund, Positive Sum Ventures, and RelishWorks. This new funding complements HourWork’s $10m Series A funding round completed in March and brings the total Series A raise to $12.5m.

The company plans to use the funds for customer success, sales and marketing.

Founded by CEO Rahkeem Morris and COO Rob Snyder, HourWork provides a recruitment and retention platform used by more than 5,000 quick-service restaurant franchises across the United States.  HourWork, which focuses on the retention of QSR franchisees and solving applicant flow problems, has seen explosive growth. The platform added over 4,000 locations in 2021 to make it a total of more than 6,000. Customers include franchisees of some of the largest multi-unit operators across iconic QSR brands such as McDonald’s, Burger King, Taco Bell, Dominos, Wendy’s, and many others. With the addition of Sodexo to its customer list, the company has expanded its market beyond the QSR sector.

In addition to the new funding, Carla Harris joins HourWork’s Board of Directors as an observer. She is the Morgan Stanley senior client advisor and co-portfolio manager for the Next Level Fund. This fund invests in technology-enabled companies, primarily in early-stage technology. Harris is also a director on the boards of directors at Walmart, Cummins Corporation and MetLife.

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