Traba has announced that it raised $20 million in a Series A funding round. Khosla led the financing with participation from Founders Fund, General Catalyst, SciFi VC and Atomic.
Traba’s exceptionally fast growth
Traba is a jobs board which helps entry level workers in finding shifts at fulfillment centers. The company has witnessed huge growth over the last year and economic slow-down has not hampered its progress. Hiring workers for the warehouse is one of the most challenging recruitment tasks. According to United States Bureau of Labor Statistics, staffing for warehouses remains notoriously challenging. Therefore, the annual turnover rates exceed 40%. Moreover, 73% warehouse operators stated in a survey that they cannot find enough workers. “Our sector actually does well throughout economic turbulence because warehouses and event venues don’t know how to staff their full-time workforce to meet the unpredictability of different order volumes and things like this. They actually rely on the staffing industry, so we’ve seen a lot of a lot of growth and interest on the business side.” Mike Shebat, CEO and co-founder at Traba said in a statement.
Worker are connecting on marketplace
The on-demand marketplace Traba connects vetted workers with open shifts at warehouses, fulfillment centers and event venues. The prospective candidates can choose the timing and place of job through their phone. Therefore, this enables them to work and earn a living on their own schedule. Pay starts at $13 an hour and ranges to $38. In addition, it also has a feature to remove workplaces with poor conditions from their platform. In January, Traba had 3,000 workers on marketplace which is now exceeded by 12,000 workers.
100% filling of staffing needs
Traba also helps small businesses solve their workforce management issues at an economical cost. Hence, the small business owners can focus more on running their businesses. Furthermore, Traba has gained repute for their ability to fill 100% of the staffing needs. On the other hand, the traditional staffing agencies have an average of 46% fill rate.
Traba’s team has doubled to 25 employees since January this year. In addition, they have begun expanding outside of South Florida and is now operating in Tampa. “We’re going to be using the capital that we just raised to expand to Texas and the rest of Florida. But Miami will always be our HQ.” Shebat added to his statement.
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