WorkHound announced today that the company has completed a fundraising seed round of $1.5 million.
The fundraising round was led by San Francisco-based Right Side Capital Management, alongside investments from several other funds including Comeback Capital, SaaS Ventures, Stout Street Capital, Acceleprise and SpringTime Ventures.
The capital will largely be used to grow the company’s technology team and support its expansion into the logistics space and additional industries.
“Among other positions, this funding will allow us to aggressively grow our engineering team. We have strong core talent and are excited to add several experienced developers,” said co-founder and CTO, Andrew Kirpalani. “We need more people on our team who consider the word ‘average’ to be substandard. This capital will allow us to attract and compensate those people appropriately. We have developed a roadmap of features to be implemented with cutting edge technologies like machine learning and we’re eager to bring on the people that will help us deliver that value to our customers.”
WorkHound’s platform let employers receive instant and anonymous workforce feedback, allowing management to address those matters as part of their employee retention efforts.
WorkHound was launched in 2015 by Max Farrell and Andrew Kirpalani. Today, the four-year old company has offices in both Des Moines and Chattanooga, Tennessee.
Initially, the company focused on the trucking space since driver turnover is a large problem across the trucking industry. Now, as WorkHound grows, the company is planning rollout into additional sectors, such as non-hospital healthcare, that feature large distributed workforces.
“To date, we’ve been fortunate to fuel WorkHound growth primarily with our revenues,” said co-founder and CEO, Max Farrell. “But as we eye an aggressive expansion into new industries, as well as building out our transportation and supply chain presence, raising a substantial seed round became imperative for us. This capital will enable us to hire more top-notch talent who will power us into the next phase of our company.”
WorkHound last raised $500,000 in pre-seed capital in 2016. Right Side Capital participated in that round and came back to lead this recent seed round.
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