Nokia Growth Partners leads $10 mln round for Gigwalk

Gigwalk has secured $10 million in Series B funding. Nokia Growth Partners led the round with participation from new backer Randstad Holding nv and previous investors August Capital, Harrison Metal and SoftTech. In addition to the funding, Paul Asel of NGP has been added to Gigwalk’s board. Based in San Francisco, Gigwalk is a local visibility software platform for consumer brands.

PRESS RELEASE

SAN FRANCISCO – March 20, 2014 – Gigwalk, a software platform for consumer brands that delivers local visibility of in-store conditions and fosters better collaboration with retailers, today announced significant company growth with the completion of its Series B financing. In addition, Gigwalk hit a key milestone, surpassing 500,000 mobile-enabled independent contractors, also known as Gigwalkers, who can be deployed to any location, delivering real-time on-the-ground visibility.
The $10 million round led by Nokia Growth Partners (NGP) also included new investor Randstad Holding nv and existing investors August Capital, Harrison Metal and SoftTech. Paul Asel of NGP has joined Gigwalk’s board. The funding will be used to further develop and scale Gigwalk’s software platform, expand partnerships with consumer brands and retailers, as well as support company growth and hiring.
“NGP is excited to invest in Gigwalk as they are disrupting how enterprises get local work done. The company’s robust technology platform and massive Gigwalker network is changing the speed, cost and effectiveness of doing distributed local work,” said Paul Asel, Managing Partner at NGP. “Gigwalk has a capable, visionary team that can deliver on this disruptive opportunity.”
Amsterdam-based, Randstad Holding nv, the world’s second largest human resources service provider, joined the round under their just launched Randstad Innovation Fund.
Gigwalk is redefining retail execution for CPG (consumer packaged goods) companies with a software platform that is built to eliminate blind spots in trade spend, product distribution and in-store merchandising. Harnessing the power of on-demand mobile workers, Gigwalk finds and fixes problems in stores, delivering measurable ROI for customers like Frito Lay, Microsoft, Reckitt Benckiser, 7Eleven and more.
“Inefficiencies in retail execution account for hundreds of billions of dollars lost globally each year,” said Bob Bahramipour, CEO of Gigwalk. “Our enterprise software platform brings transparency and accountability to local operations, eliminating these problems and improving how brands and retailers work together.”
Gigwalk also today announced the recent appointment of David Hale as V.P. of Business Development and Operations and Molly Glover Gallatin as V.P. of Marketing. Most recently an Entrepreneur in Residence at Lightspeed Ventures, Hale offers over 20 years of managing solutions and customer success teams. Gallatin joined Gigwalk from Compass Labs, where she was instrumental in overseeing the company’s marketing and corporate communications strategy. She brings over 20 years of experience in digital media, brand marketing, online advertising, and public relations to the team.
About Gigwalk
Gigwalk is a local visibility software platform that facilitates brand and retailer collaboration to drive in-store sales. With the world’s largest network of mobile-enabled independent contractors, also known as Gigwalkers, leading brands and retailers use the Gigwalk platform to track and fix retail execution to improve performance at retail and drive revenue growth. Since launching in 2011, over 500,000 Gigwalkers have completed more than 4 million Gigs for businesses across North America. Based in San Francisco, California, Gigwalk is backed by August Capital, Harrison Metal, Nokia Growth Partners, Randstad Holding nv, SoftTech, Greylock Discovery, Accelerator Ventures, and Founder Collective. For more information, visit gigwalk.com.
About Nokia Growth Partners
Nokia Growth Partners invests in companies that are changing the face of mobility, communications and the internet. NGP offers industry expertise, capital and an extensive network, enabling entrepreneurs to build disruptive, industry-changing companies and take them to the global market. With offices in the US, Europe, India and China, NGP extends the reach of companies making their products and services local everywhere. Visit www.nokiagrowthpartners.com for more information.
About Randstad
Randstad specializes in solutions in the field of flexible work and human resources services. Their services range from regular temporary staffing and permanent placements to in-house, professionals, search & selection, and HR Solutions. The Randstad Group is one of the leading HR services providers in the world, with top-three positions in Argentina, Belgium & Luxembourg, Canada, Chile, France, Germany, Greece, India, Mexico, the Netherlands, Poland, Portugal, Spain, Switzerland, the UK, and the United States as well as major positions in Australia and Japan. In 2013, Randstad had approximately 28,000 corporate employees and around 4,600 branches and In-house locations in 39 countries around the world. Randstad generated revenue of € 16.6 billion in 2013. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad Holding nv is listed on the NYSE Euronext Amsterdam, where options for stocks in Randstad are also traded. For more information see www.randstad.com.

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