# Veryable

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

- Industry: Internet
- Headquarters: Dallas, US
- Website: www.veryableops.com
- Total disclosed funding: $44M
- Latest round: Series A (Aug 10, 2021)
- Investors on record: 4

## About

Veryable, Inc. is an innovative on-demand labor marketplace that connects manufacturers and distributors with a flexible workforce, enabling businesses to respond dynamically to labor needs and optimize productivity.Founded in 2016 in Dallas, US, Veryable, Inc. operates as a labor marketplace, facilitating the connection between businesses and flexible labor. The company was co-founded by Michael Kinder and Noah Labhart, with Michael Kinder currently serving as CEO. In August 2021, Veryable raised USD 31.9 mn in a Series A funding round led by Gigafund, with participation from Trust Ventures, bringing the total amount raised to USD 31.9 mn. The company has completed 5 deals to date.Veryable's primary offering is an on-demand labor marketplace designed to provide manufacturers and distributors with a flexible workforce that can be utilized as needed. This platform allows businesses to match their labor supply to fluctuating work demands, thus enabling just-in-time operational responses and optimizing productivity levels. Veryable's technology integrates seamlessly with existing systems such as ERP, WMS, and HRIS to enhance workforce management by leveraging real-time data for monitoring production demands and optimizing labor plans. The service is tailored to various industries, including automotive, food and beverage, logistics, and medical manufacturing, and is operational across diverse geographical markets in the United States, from urban centers like Dallas and Atlanta to manufacturing hubs in the Midwest.Veryable's revenue structure is primarily based on transactions within its on-demand labor marketplace. Businesses subscribe to access the platform, which connects them with a flexible labor pool that can be engaged for short-term or specific tasks. The payment model typically involves charges for labor utilization, allowing clients to pay for only the labor they require, thus aligning costs with actual production demands. This model supports a range of clients, from multinational corporations to small family-owned businesses, seeking to enhance operational efficiency while managing labor costs effectively. By facilitating this flexible labor engagement, Veryable aims to drive operational excellence and improve lead times, thereby supporting revenue growth through enhanced service delivery and capacity management.In August 2021, Veryable, Inc. raised USD 31.9 mn in Series A funding, led by Gigafund, to reinforce its presence in the US and advance its product offerings for both businesses and workers. The funding will be utilized to enhance the functionality of its existing marketplace and potentially expand into new geographic regions, although specific markets for expansion have not been detailed. This strategic growth initiative aims to further capitalize on the demand for flexible labor solutions in various industries.

## Funding rounds

- Series A, Aug 10, 2021, $32M — Gigafund, Trust Ventures
- Seed, Mar 2, 2020, $6M — Trust Ventures
- Seed, Mar 26, 2019, $3.5M — True Ventures
- Seed, May 31, 2018, $2.5M — Chicago Ventures

## Investors

- Chicago Ventures (https://capitalatlas.ai/funds/chicago-ventures) — Seed
- True Ventures (https://capitalatlas.ai/funds/true-ventures) — Seed
- Trust Ventures (https://capitalatlas.ai/funds/trust-ventures) — Seed, Series A
- Gigafund (https://capitalatlas.ai/funds/gigafund) — Series A