INSUBCONTINENT EXCLUSIVE:
a mess the world is at the moment
That was a key theme of the show, but not the only thing that we mentioned
So, instead, meet Hourly, a neat company that just raised $7.2 million.HourlyHourly provides a software solution for labor tracking and
payroll processing, noting industries like construction, service and light industry on its website
and help them pay for it.The startup charges for its tooling on a recurring basis, a regular setup for a modern software product delivered
After paying some modest base prices, time tracking costs $8 per employee per month, while its payroll service costs a bit more at $10 per
According to Hourly CEO Tom Sagi, the company may bundle the two services in the future and offer a discount of perhaps 20% for companies
to Sagi, the company currently generates about half its revenue from workers comp commissions.That means that Hourly has a two-part SaaS
business and a technology-powered insurance business
least compared to how much other startups seem to get done before a round of that size.How did Hourly get so far with so little money? The
And that means that for its external capital base, the company feels somewhat product-mature.That maturity is letting it bring on larger
Larger customers means larger contract values, which can mean faster growth.What else?Oh just the closing of the unicorn exit window for
Aside from distressed sales, what sort of company would want to exit in a time like this? More from the Equity crew soon, hang tight.Equity
