The HireHand team has connected over 2,000 people with work since its founding in 2015. In a bid to continue its progress, the startup has launched a funding campaign through Seedrs for 1.13 million EUR. The company hopes to use AI and smart platforms to bridge gaps in the employment industry. It would like to promote the perspective that AI can boost human employment, rather than steal from it.
Crowdfunding as Revenue
Seedrs, an equity crowdfunding platform, connects startups with investors. It provides service mostly for social enterprises, offering support through the marketing and outreach process. This strategy is focused specifically on growing companies through a less-involved process than a traditional accelerator setup. Companies can connect with investors to fund businesses in 1-40 days.
HireHand plans to use the funding to expand its services to the construction industry, and eventually hospital and caretaking services. It also plans to launch a branch in New York.
Mustard Seed has previously invested in the company.
“We back companies that are able to combine solving the biggest global social issues with the utmost commercial rigour,” said Orson Stadler, investment director at Mustard Seed. “HireHand exemplifies this by being a leader in defining how the human workforce can thrive in an age of automation and doing so with blue-chip expertise and technical skill.”
Connecting Humans with Work
With the increasing momentum towards automated processes and robotic solutions, many fear that their work opportunities will decrease. However, the World Bank review on the impact of information and communication technologies on employment demonstrated that online platforms have connected an estimated 12 million people worldwide with jobs.
HireHand partners with businesses, charities, and workers positions to connect all groups directly with their immediate employment needs. The company has already successfully connected 2000 workers with 3.38 million EUR in wages. What remains to be seen is if gig-based solutions can provide pathways to long-term employment and real security for vulnerable individuals.