YellowBird – a leading EHS and Risk Management technology company – announced it raised $5 million in seed funding at an oversubscribed $6.25 million. This funding round was led by Rebalance Capital and Manifold Group and joined by QBE, Nationwide’s Venture Capital team, Plug and Play, Cameron Ventures, and other investors. This funding round will be used for helping YellowBird further invest in building technology and accelerate its customer acquisition and marketplace strategy.
The funding round will also help YellowBird continue its growth momentum, further invest in building technology, and accelerate its customer acquisition and marketplace strategy. And YellowBird plans to hire engineering team members to continue developing advanced technology, grow the customer success team to improve client satisfaction and invest in sales and marketing advancements.
YellowBird has grown exponentially over the past 2 years with sourced jobs in 42 states. And YellowBird has achieved 2x year-over-year revenue and supply growth 2 years in a row with Environmental, Health and Safety (EHS) professional flex workers. YellowBird’s customer list features Fortune 100 companies, including Nationwide and QBE Insurance along with major brands in manufacturing, construction, and energy. Working EHS and Risk Management Professionals through the YellowBird platform earn an average of $75 per hour.
According to the United States Bureau of Labor Statistics, there is a death related to work injuries, incidents and accidents every 101 minutes. Along with the cost of human life, the cost of work-related injuries in 2021 was $167 billion according to the National Safety Council. The benefits of proper EHS management can be significant, both in terms of financial savings and non-financial benefits and can contribute to the long-term sustainability of a business or industry.
KEY QUOTES:
“We are thrilled to have completed this funding round with the support of two of the nation’s most highly respected impact venture capitalists and two of the largest global insurance brands. This funding will provide resources to continue developing our platform’s technology, particularly artificial intelligence, performance tracking, and delivery efficiency, as well as introduce upskilling opportunities for our professionals. Our goal is to help EHS and Risk Management Professionals earn more with greater flexibility and create equitable access to work in the process.”
– Michael Zalle, Founder and CEO of YellowBird
“We are immensely impressed by YellowBird’s scalable solution for matching skills in the historically fragmented and friction filled EHS industry. Equally important, they are creating equitable access to work for all levels of education and ability. We are proud to be part of this journey and the contribution this business is making to workforce development.”
– Josh Tanenbaum, Managing Partner at Rebalance
“YellowBird’s sweeping impact to the EHS labor market has been as far-reaching as we expected. They fill a huge gap in the Risk Management space and the problems they are solving are demonstrative of why we invest in the future of work. Michael and Michelle are tenacious founders, and we couldn’t be happier to be a part of their growth story.”
– Brett Klein, Partner at Manifold
