Hourly.io, a Palo Alto, Calif. -based workers’ comp and payroll startup, raised $27 million in Series A financing.
The round was led by Glilot Capital Partners through its early growth fund, Glilot+. Additional backers include previous investors S Capital, MS&AD Ventures, J-Ventures and new to this round, Vintage Investment Partners and Upshot Ventures.
The company intends to use the funds to expand beyond the state of California, and scale its insurance platform nationwide.
Led by Co-founder and CEO Tom Sagi, Hourly is an insurtech startup offering full-service payroll and workers’ comp insurance for small and medium businesses with hourly workers.
FinSMEs
05/06/2022