Workrise, one of Austin’s most heavily-funded tech companies, raised $300M to expand reach – Austin American-Statesman

Xuan Yong, left, and Mike Witte are co-founders of Austin-based Workrise. The company said Thursday it has raised $300 million for expansion. [CONTRIBUTED BY WORKRISE]

Workrise, one of Austin’s most heavily funded tech companies, has raised $300 million to accelerate its push beyond the oil and gas industry.

Founded in 2014, Workrise was launched as an online platform that connects oil and gas companies and service companies. Clients use the platform for recruiting and onboarding employees, ongoing worker management, training invoicing and payments.

Skilled laborers can use the platform to find work, while companies can use it to find trained workers.

Over the past two years, Workrise has expanded its reach to include wind, solar, construction, and defense industries. Its platform now matches workers with more than 500 companies in its network.

In February, the company changed its name from RigUp to Workrise in an effort to reflect its broader strategy.

May 22, 2021 susan ward