- Series D Funding of $60M for Homebase, led by El Catterton Growth, supporting HR tech solutions.
- Strategic leadership and team expansion, hiring of new CFO Philip Moon from Square.
- Focus on quality work and technology, emphasizing the importance of quality work in community health.
Homebase founder and CEO John Waldman emphasized that while many tech companies cater to the HR technology needs of small and mid-sized businesses, most are designed for desktop employees while Homebase focuses on building two-thirds of American SMB employees who work hourly must be physically present.
Homebase recently raised $60 million in Series D funding, with El Catterton Growth leading the round. This funding will further support Homebase's offerings, including payroll, shift scheduling, time sheets, hiring and onboarding, communications, and HR compliance.
According to Richards, Homebase has more than 2 million employees, making up more than 2% of the workforce, which is impressive for a private company. He argues that if the numbers continue to grow, Homebase could become an important player in technology and finance.
During 2021, Homebase raised $71 million in revenue. Since then, Homebase has expanded financial services and introduced AI-powered products, such as its automated payroll system has increased. The company is also developing an automated tip management system.
Homebase raised $169 million in equity financing. By 2021, the company is estimated to be worth between $500 million and $600 million. Waldman did not confirm this valuation but said it is not moderate.
Earlier this year, Philip Moon was hired as the new CFO, bringing experience from Square and Grove Collective. Rushi Patel, co-founder and COO of the company, also took on the role of Chief financial officer.
Waldman emphasized the importance of quality work in community health and emphasized the importance of using technology to empower staff and improve service delivery.
Edited by Shruti Thapa
