Huntsville, Alabama-based Spur is a new and innovative employment platform company that is redefining the relationship between hourly workers and employers who depend on them. Recently, Spur announced it raised $8 million in Series A funding led by Third Prime. Mark Bezos and John Griffin (founder of Blue Ridge Capital) also participated in this round.
In conjunction with this funding round, Bezos is joining the board of directors at Spur. This round of funding is considered one of the largest ever raised by an Alabama-based company.
There are approximately 78 million people (60% of American jobs) that are part of the hourly worker economy. This means that Spur has plenty of room to grow. The Spur platform provides workplaces like hotels, restaurants, and various businesses with a platform for all their employment needs to save time and money while also improving benefits and services.
“We started Spur with a mission to provide workers greater access to opportunity and ultimately improve their quality of life. We’re doing that by partnering with businesses and other organizations to take on all the responsibilities associated with managing HR and payroll for their hourly workforces and then ensuring those workers are well taken care of over the course of their employment,” said Spur founder and CEO Glenn Clayton. “We believe most businesses want to treat their workers well – we’re just making it easier and more cost-effective than ever before to deliver on that goal.”
Businesses that use Spur can schedule their employees and approve their time through the Spur app. And the Spur platform handles all of the other employee needs such as benefits, perks, and other services designed for hourly workers like healthcare, savings accounts, discounted services, and paid sick leave. Plus Spur helps workers find side gigs and other opportunities for boosting their income and stability.
“Spur is redefining how businesses manage and provide for their hourly workforce” added Third Prime managing partner Wes Barton. “We have been impressed with Spur’s leadership, platform, unique value proposition, and unwavering dedication to helping improve the quality of life for millions of hard-working Americans. We are looking forward to continued momentum as more companies and their workers experience Spur firsthand.”
With this funding round, Spur will accelerate growth within the hospitality industry — which is one of the fastest growing segments of the hourly workforce. And Spur is planning to bolster its corporate and executive team, roll out its service across more metro areas, and continue development of its employment platform and products.
