SAN FRANCISCO -- Sh1ft, Inc. (Shift One), today announced initial seed funding of $5.2 million, led by Rappi co-founder Felipe Villamarin and Bogota-based Ventura Investments.
Shift One was founded in 2019 by former Uber and 99 Taxis executives to address two challenges of the labor economy: the lack of a robust online marketplace for working-class jobs and a technology solution for companies looking to hire those workers.
Focusing on solutions to quickly deploy teams of workers for last-mile logistics and delivery, e-commerce fulfillment and large-scale events, Shift One is building sustainable, long-term careers for workers and capital-efficient solutions for companies.
“The labor market today is broken. The working class is hard pressed to find their next steady job at a fair rate, and supply chains struggle to source the right workers to fulfill demand,” said Founder and CEO Jason Radisson. “Shift One is a new model that provides stable jobs for workers, while providing employers with the flexibility they need without cutting legal employment corners.”
This part of the labor economy is marked by informal employment rather than true careers, and companies need help identifying the best workers. Shift One solves both problems.
“Shift One is the natural evolution of employment and is completely disruptive to the traditional staffing industry. Shift One is improving the efficiency of companies' operations while at the same time improving the quality of life for workers everywhere,” said Villamarin.
COVID-19 has created a host of new challenges for these businesses, as demand for last-mile planning and services has exploded. Shift One is helping ensure workers aren’t left behind at this important time.
“In the wake of COVID-19, converting informal jobs to formal and stable employment is more important than ever,” said Renzo Sesana, director of Ventura Investments. “We are proud to work with Shift One and believe this model can be truly transformational for working-class labor and companies that depend on them.”
Other key investors in Shift One’s initial funding round include City Light Capital, Tinder co-founder Justin Mateen’s JAM Fund, K50 Ventures and Human Ventures. Shift One is headquartered in San Francisco with offices in Bogotá. Early adopters include Amazon, Weee! and Mensajeros Urbanos.
Securities Note: This press release does not constitute an offer to sell any securities.