Gigpro Closes $16 Million Funding Round Led By Foundry

Gigpro, the Charleston, South Carolina-based on-demand labor marketplace for the hospitality industry, said it has closed a $16 million Series A funding round led by Foundry, with participation from Stage 1 Ventures and existing investors Stage 2 Capital and Detroit Venture Partners.

Officials said the milestone marks a significant step forward in Gigpro's mission to revolutionize the gig economy by connecting businesses with skilled independent professionals efficiently and seamlessly.

In just three years, Gigpro has distinguished itself as the leading labor marketplace dedicated to the hospitality industry.

In 2023, Gigpro was named Fastest Growing Company in South Carolina in Integrated Media Publishing's annual rankings of South Carolina-headquartered companies.

Officials said the infusion of capital will enable Gigpro to expand its platform and enhance its technological capabilities, while continuing to provide value to both businesses and gig workers.

"We are thrilled to have the support of such esteemed investors who share our vision for the future of work," said Samuel Mylrea, CEO and founder of Gigpro. "This funding will allow us to empower more hospitality professionals, further advance our leading technology platform, and continue to provide exceptional service."

Officials say Gigpro addresses one of the most pervasive challenges in the hospitality industry: labor. This sector faces significant hurdles --- 79 percent of restaurants experience staffing shortages according to the National Restaurant Association.

Additionally, the hospitality industry consistently sees employee attrition rates near 100 percent --- twice the national average.

Meanwhile, 67 percent of hospitality professionals report difficulty making ends meet every month.

The officials said Gigpro's labor marketplace addresses these problems head on, empowering businesses and hospitality professionals to connect in real time, solving the businesses' labor gap while providing additional income and career opportunities to hospitality professionals.