# Mywork

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

- Industry: Software
- Headquarters: Sao Paulo, Brazil
- Website: www.mywork.com.br
- Total disclosed funding: $1.5M
- Latest round: Seed (Aug 19, 2021)
- Investors on record: 4

## About

Mywork is a Brazilian online platform that streamlines employee management tasks such as time tracking and vacation management, aimed at enhancing HR efficiency across various sectors.Founded in 2018 in Sao Paulo, Brazil, Mywork offers a platform designed to optimize management of employee work hours and related processes. The founders, Thomas Carlsen and Timor Espallargas, have created a service that has secured a total of 3 deals, with the most recent funding round occurring on August 19, 2021. Mywork successfully raised BRL 3.5 million in a Seed round, co-led by ABSeed and DOMO Invest, with participation from Raio Capital and Bossa Nova Investimentos.Mywork offers a comprehensive online platform designed to streamline the management of employee work hours, vacation days, and hour banks. The core functionalities include automated time tracking, vacation management that complies with labor regulations, and an efficient hour bank system that allows for real-time monitoring of employee hours. Additionally, Mywork provides advanced analysis and verification processes for medical leave documentation, enhancing fraud prevention through artificial intelligence. The platform is accessible via mobile applications and web interfaces, catering predominantly to businesses across various sectors, including construction, logistics, retail, and information technology, with a customer base that spans multiple geographical markets including Brazil and potentially other Latin American countries.Mywork operates on a subscription-based revenue model, where businesses pay for access to its suite of services. The pricing structure is designed to accommodate various client needs, providing flexibility for different company sizes and sectors. Clients may enter into annual or monthly subscription agreements, granting them access to core functionalities such as time tracking, vacation management, and hour bank organization. The platform's integration with financial partners like Clara suggests possible additional revenue avenues through financial services linked to workforce management. The service offerings are structured to enhance operational efficiency, reduce administrative burdens, and ensure compliance, ultimately contributing to cost savings for clients.In August 2021, Mywork raised BRL 3.5 million in a Seed round aimed at enhancing its product offerings and expanding its market reach. The funding will be allocated towards marketing and the development of new products focused on managing vacations, benefits, and payroll, along with financial products that complement HR functionalities. Mywork aims to broaden its services into additional Latin American markets in the near future, enhancing their position as a comprehensive HR management solution.

## Funding rounds

- Seed, Aug 19, 2021, $0.7M — Bossa Nova Investimentos, DOMO Invest, ABSeed, Raio Capital
- Seed, Oct 9, 2019, $0.8M — ABSeed

## Investors

- ABSeed (https://capitalatlas.ai/funds/abseed) — Seed
- Bossa Nova Investimentos (https://capitalatlas.ai/funds/bossa-nova-investimentos) — Seed
- DOMO Invest (https://capitalatlas.ai/funds/domo-invest) — Seed
- Raio Capital (https://capitalatlas.ai/funds/raio-capital) — Seed