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Gigwalk Completes $10 Million in Series B Funding Led by Nokia Growth Partners, Surpasses 500,000 Gigwalker Milestone & Expands Leadership Team
|By Business Wire
|March 20, 2014 01:07 PM EDT
Gigwalk, a software platform for consumer brands that delivers local
visibility of in-store conditions and fosters better collaboration with
retailers, today announced significant company growth with the
completion of its Series B financing. In addition, Gigwalk hit a key
milestone, surpassing 500,000 mobile-enabled independent contractors,
also known as Gigwalkers, who can be deployed to any location,
delivering real-time on-the-ground visibility.
The $10 million round led by Nokia Growth Partners (NGP) also included
new investor Randstad Holding nv and existing investors August Capital,
Harrison Metal and SoftTech. Paul Asel of NGP has joined Gigwalk’s
board. The funding will be used to further develop and scale Gigwalk’s
software platform, expand partnerships with consumer brands and
retailers, as well as support company growth and hiring.
“NGP is excited to invest in Gigwalk as they are disrupting how
enterprises get local work done. The company’s robust technology
platform and massive Gigwalker network is changing the speed, cost and
effectiveness of doing distributed local work,” said Paul Asel, Managing
Partner at NGP. “Gigwalk has a capable, visionary team that can deliver
on this disruptive opportunity.”
Amsterdam-based, Randstad Holding nv, the world’s second largest human
resources service provider, joined the round under their just launched
Randstad Innovation Fund.
Gigwalk is redefining retail execution for CPG (consumer packaged goods)
companies with a software platform that is built to eliminate blind
spots in trade spend, product distribution and in-store merchandising.
Harnessing the power of on-demand mobile workers, Gigwalk finds and
fixes problems in stores, delivering measurable ROI for customers like
Frito Lay, Microsoft, Reckitt Benckiser, 7Eleven and more.
“Inefficiencies in retail execution account for hundreds of billions of
dollars lost globally each year,” said Bob Bahramipour, CEO of Gigwalk.
“Our enterprise software platform brings transparency and accountability
to local operations, eliminating these problems and improving how brands
and retailers work together.”
Gigwalk also today announced the recent appointment of David Hale as
V.P. of Business Development and Operations and Molly Glover Gallatin as
V.P. of Marketing. Most recently an Entrepreneur in Residence at
Lightspeed Ventures, Hale offers over 20 years of managing solutions and
customer success teams. Gallatin joined Gigwalk from Compass Labs, where
she was instrumental in overseeing the company’s marketing and corporate
communications strategy. She brings over 20 years of experience in
digital media, brand marketing, online advertising, and public relations
to the team.
Gigwalk is a local visibility software platform that facilitates brand
and retailer collaboration to drive in-store sales. With the world’s
largest network of mobile-enabled independent contractors, also known as
Gigwalkers, leading brands and retailers use the Gigwalk platform to
track and fix retail execution to improve performance at retail and
drive revenue growth. Since launching in 2011, over 500,000 Gigwalkers
have completed more than 4 million Gigs for businesses across North
America. Based in San Francisco, California, Gigwalk is backed by August
Capital, Harrison Metal, Nokia Growth Partners, Randstad Holding nv,
SoftTech, Greylock Discovery, Accelerator Ventures, and Founder
Collective. For more information, visit gigwalk.com.
About Nokia Growth Partners
Nokia Growth Partners invests in companies that are changing the face of
mobility, communications and the internet. NGP offers industry
expertise, capital and an extensive network, enabling entrepreneurs to
build disruptive, industry-changing companies and take them to the
global market. With offices in the US, Europe, India and China, NGP
extends the reach of companies making their products and services local
everywhere. Visit www.nokiagrowthpartners.com for
Randstad specializes in solutions in the field of flexible work and
human resources services. Their services range from regular temporary
staffing and permanent placements to in-house, professionals, search &
selection, and HR Solutions. The Randstad Group is one of the leading HR
services providers in the world, with top-three positions in Argentina,
Belgium & Luxembourg, Canada, Chile, France, Germany, Greece, India,
Mexico, the Netherlands, Poland, Portugal, Spain, Switzerland, the UK,
and the United States as well as major positions in Australia and Japan.
In 2013, Randstad had approximately 28,000 corporate employees and
around 4,600 branches and In-house locations in 39 countries around the
world. Randstad generated revenue of € 16.6 billion in 2013. Randstad
was founded in 1960 and is headquartered in Diemen, the Netherlands.
Randstad Holding nv is listed on the NYSE Euronext Amsterdam, where
options for stocks in Randstad are also traded. For more information see www.randstad.com.
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