The “never be out of work” app offers a great quit solution by providing hourly employment to displaced workers and helping companies meet changing demands
PROVO, Utah, August 4, 2022–(BUSINESS WIRE)–Bacon on-demand labor app (www.bacon.work) received $8 million in Series A-1 funding from some of the top companies country’s investment firm, as well as a former gig worker who is now investing in the company he attributes to his return. The ‘temp agency in an app’ will use the latest funding to hire key team members and expand to 40 more markets over the next 18-24 months.
Bacon’s new investors include Grayhawk Capital in Phoenix, 2.0 Ventures in Salt Lake City and Elevate Capital in Portland. They join follow-on investors Hall Venture Partners in Provo, Utah, and Assure Syndicates in Salt Lake City.
“Bacon is successfully responding to the huge shifts in the economy due to the Great Resignation, labor shortages and the pandemic,” said Hunter Sebresos, Founder and CEO of Bacon. “Using on-demand labor protects and helps workers and businesses in times of uncertainty.”
Bacon has been dubbed the “Uber of Hourly Labor” by allowing companies with varying temporary staffing needs to screen, select and hire skilled workers in moments. Likewise, the free app makes it easy for workers to find and select hourly shifts that suit their own schedule and lifestyle. Bacon does not charge a fee for companies to hire a full-time Bacon worker.
Bacon has provided over 240,000 shift opportunities to over 165,000 workers and 650 businesses in Arizona, Florida, Georgia, Idaho, Illinois, Michigan, Minnesota, Nevada, Virginia, Tennessee, Texas, Utah, Wisconsin and Washington, DC
Gig worker to gig investor
Assure chief executive Landon Ainge discovered Bacon after he lost his job at a startup and used the app to connect with dozens of people and businesses. Ainge shared on LinkedIn why he now wants to give others the same benefits he received from the company.
“I knew how Bacon helped businesses and individuals grow in all walks of life,” Ainge said. “When looking for a promising company to invest in, I knew Bacon was where I would help my investors deploy their capital.”
Assure Syndicates invests in Bacon and the company provides innovative and industry-unique matchmaking services for venture capitalists and company founders.
Why Others Invest Big in Bacon
Elevate Capital is a Pacific Northwest-based venture capital firm that invests nationwide in underrepresented early-career entrepreneurs, including women, BIPOC, LGBTQ+, and veterans.
“Elevate Capital invests in underserved founders and building companies that maximize human potential,” said Nitin Rai, Founder and Managing Partner of Elevate Capital. “As Marine Corps veterans, Hunter and Bacon embody the spirit and investment philosophy of Elevate Capital.”
2.0 Ventures is a new venture capital (VC) group based in Utah that focuses on strategy to do what is right for businesses and investors.
“Bacon is disrupting a large legacy market of temp agencies that lack innovation and market momentum,” said Benson Metcalf, managing partner and CEO of 2.0. “We love all the bustle on display.”
Grayhawk Capital is a long-standing, respected venture capital group that primarily invests in B2B disruptive SaaS solutions for various industries, including healthcare, cybersecurity, and fintech.
“We are investing in Bacon because we are impressed with how Hunter is growing this business and disrupting outdated temp agencies,” said Brian Smith, managing partner of Grayhawk.
Bacon has been part of the Hall Labs and Hall Venture Partners (HVP) legacy since the company’s investment cycle began in 2019.
“We are pleased to back Bacon again as they have demonstrated great traction in their existing markets and have strategically opened up new markets,” said Matt Van Dyke, HVP Managing Partner.
Bacon is like the Uber of hourly jobs by making it easy to work anytime, anywhere. Bacon connects employers with prequalified, available candidates who will work on demand for as little as one shift. Bacon offers employment opportunities for warehouse, construction, deliveries, catering, events, printing, laundry production, restaurants, retail and other jobs. The Provo, Utah company started in 2018 and has attracted businesses and employees in 14 states through the Bacon Work On-Demand app. For more information, visit baconwork.com.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220804005156/en/