22nd July 2020, Bengaluru: Tech-enabled staffing solution start-up, Gigforce has raised INR 60 million from Unitus Ventures, India’s leading impact venture fund that supports early-stage tech start-ups with India scale and global potential. The start-up is redefining staffing solutions for businesses that rely on gig workers for their jobs.
Founded by Chirag Mittal, Co-Founder & CEO, Parag Modi, Co-founder & CTO and Anirudh Syal, Co-founder & COO, Gigforce bridges the gap between conventional hiring and modern-day business demands. Today, businesses are not only looking for on-demand staff, but also for business focused solutions. Parameters like flexibility of contracts, quick onboarding, pre-trained staff, replacement of inadequately trained talent and more transparency, are increasingly becoming more important.
Key value proposition
Gig economy has become the backbone of many traditional and non-traditional businesses, resulting in a surge of demand for gig workers. Through Gigforce, companies can hire effectively with flexibility, maintaining transparency, quality and reliability. For gig workers, the platform offers the opportunity to select jobs suited to their priorities, along with industry specific training and upskilling.
Commenting on this development Chirag Mittal, Cofounder & CEO, Gigforce said,
We are thrilled to have Unitus Ventures to support us with scaling up the platform. The dynamics of hiring have rapidly changed in the last six months.
“We have witnessed how the ongoing crisis has affected the growth of businesses and their staff. To ensure that a similar situation is avoided in future, Gigforce aims to reduce operational hassle for businesses and provide meaningful ways to earn livelihood for workers. We believe that a large number of retail players will want to move to this model, especially in these times where the demand is uncertain and the economy is subject to frequent disruptions.”
“We use chatbots, mobile applications, self-managed dashboards and a matching engine in the background to create the complete service. Gigforce also integrates and uses social media platforms like Facebook and WhatsApp to quickly onboard workers seeking earning opportunities.” said Parag Modi, Co-founder & CTO, Gigforce
Market size
In India, this market is estimated to be USD $10 billion and is expected to grow to USD $40 billion in a few years. “Demand is not a concern as enterprises have shown interest in flexible hiring solutions. A testimony to this is that we have already received more pilot requests than predicted, which is very encouraging. The aim is to ensure service and scalability for clients”, added Anirudh Syal, Co-founder & COO, Gigforce.
Speaking about this investment, Surya Mantha, Senior Partner, Unitus Ventures said, “In India, almost 70% of corporates have already used gig workers for at least one task in 2018. We are glad to partner with Gigforce, and we strongly believe that Gigforce’s value proposition will be core to the future of staffing. This will be a game changer while growing the global gig market multi-fold, in turn creating more employment opportunities in emerging economies like India.”
Featured On:
About Gigforce
Gigforce is an on-demand staffing platform offering curated & pre-trained gig staff on a task, hourly, weekly or monthly basis. It connects available gigers to short gigs in their locality spanning from a day up to a few months. Gigforce also ensures gigers proper training, documentation and pay-outs. More about Gigforce >
About Unitus Ventures
Unitus Ventures is the leading venture fund in India that supports early-stage fintech, healthcare, and job-tech start-ups with India scale and global potential. Launched in 2012, Unitus Ventures is a founding member of Capria Network, the leading global network of emerging market fund managers collaborating to deliver superior returns and scaled impact. Unitus Ventures is based in Bangalore and Seattle. More about: https://unitus.vc and http://capria.vc/network
