• Hourly

  Participated · Series A · Jun 2022

  Hourly.io, based in Palo Alto, Calif., provides integrated payroll and workers’ compensation insurance tailored to small and medium businesses that employ hourly workers. The company is led by co-founder and CEO Tom Sagi and positions its product as a full-service payroll plus workers’ comp insurance platform. In May 2022 Hourly.io raised $27 million in a Series A financing to support growth. The firm plans to use the funds to expand beyond California and scale its insurance platform nationwide. Investors include a mix of prior backers and new participants, signaling continued support from the startup’s existing network. No operating metrics (revenue or user counts) were disclosed in the article. Hourly is a mobile-first fintech and insurtech platform purpose-built to simplify workers’ comp insurance, payroll and time tracking for small businesses. The product partners with insurance providers and leverages real-time payroll data to ensure accurate premium reporting and reduce employers’ workers’ comp costs. Hourly consolidates workforce management tools to save business owners time and money and to prevent over- or underpayment of insurance premiums. The company launched earlier this year and is currently available in California, with plans to expand rapidly into other markets throughout 2020. Hourly raised $7.15 million in seed funding to support that expansion. The leadership team includes co-founders Tom Sagi (CEO) and Shay Litvak (CTO), and advisor Amir Faintuch joined as Executive Chairman of the Board.

No current team members are available.