# Hourly

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hourly

- Industry: Software
- Headquarters: Palo Alto, US
- Website: www.hourly.io
- Total disclosed funding: $34M
- Latest round: Series A (Apr 26, 2022)
- Investors on record: 8

## About

Hourly, Inc. offers a comprehensive platform that integrates payroll, workers' compensation insurance, time tracking, and HR services, enabling businesses to manage workforce costs efficiently.Founded in 2019, Hourly, Inc. is based in Palo Alto, US. The company specializes in an integrated platform for payroll and workforce management. Shay Remembrance and Tom S founded the company. It has successfully raised USD 5.00 mn in Series A funding from Sienna Real Estate as of November 1, 2022, achieving a total amount raised of USD 5.00 mn and a current valuation of USD 70.04 mn.Hourly, Inc. specializes in providing an integrated platform that combines payroll, workers' compensation insurance, time tracking, human resources (HR), and GPS features into a single solution. Tailored for various industries, its offerings serve business owners needing efficient workforce management. The platform's real-time wage data minimizes unexpected expenses, ensuring clients only pay for necessary coverage. It streamlines payroll processes while managing workers' comp coverage, benefiting small to medium-sized enterprises across the United States, especially tradespeople and service industry workers.Hourly generates revenue primarily through a subscription-based model that integrates payroll processing and workers' compensation insurance. Clients pay a set fee based on their chosen plan, which may include varying service levels tailored to meet specific business needs. This model enhances cash flow management for Hourly while providing clients predictable budgeting for payroll and insurance costs. Regular transactions, typically monthly or bi-weekly, ensure efficient service delivery and high customer satisfaction.In November 2022, Hourly, Inc. raised USD 5.00 mn in Series A funding, which will be utilized to support the development of new features and services on its platform. The company plans to expand its offerings into new geographic regions, aiming for growth in the construction and logistics sectors across major urban areas in the United States by 2024.

## Funding rounds

- Series A, Apr 26, 2022, $27M — Vintage Investment Partners, Glilot Capital Partners, Hone Capital, S Capital VC, J-Ventures, MS&AD Ventures
- Seed, Mar 1, 2021 — J-Ventures
- Seed, Dec 18, 2019, $7.2M — Innova Capital, SCapital, J-Ventures

## Investors

- Innova Capital — Seed
- SCapital — Seed
- J-Ventures (https://capitalatlas.ai/funds/j-ventures) — Seed, Series A
- Vintage Investment Partners (https://capitalatlas.ai/funds/vintage-investment-partners) — Series A
- Glilot Capital Partners (https://capitalatlas.ai/funds/glilot-capital-partners) — Series A
- Hone Capital — Series A
- S Capital VC (https://capitalatlas.ai/funds/s-capital-vc) — Series A
- MS&AD Ventures (https://capitalatlas.ai/funds/ms-ad-ventures) — Series A