The Road Ahead
I am thrilled to announce that we have successfully closed a $16 million Series A funding round, led by Foundry, with participation from Stage 1 Ventures, Stage 2 Capital, and Detroit Venture Partners. This achievement is a testament to the resilience, dedication, and relentless spirit of the hospitality industry.
The hospitality industry holds a special place in our hearts and our society. Behind every wedding, dinner date, and much-needed vacation are the hardworking hospitality professionals who tirelessly create these magical moments. They are the unsung heroes who ensure life’s moments are seamless and memorable.
Equally important are the business owners who help weave the entrepreneurial fabric of our society. These individuals invest their time, resources, and passion to build establishments that become the heart of our communities. Their perseverance and innovation drive the industry forward, despite the numerous challenges they face.
And there is perhaps no greater challenge than labor. According to the National Restaurant Association, 79 percent of restaurants report staffing shortages and employee attrition rates hover around 100 percent—double the national average. We know from our own direct experience in the hospitality industry that labor is what makes or breaks a business, and those data points speak to just how pervasive the challenge is.
Meanwhile, wages within the hospitality industry are 43% below our national average and more than two-thirds of hospitality professionals regularly struggle to make ends meet. Instead of looking at these as insurmountable, independent problems, we see a solvable mismatch of talent and opportunity in the market.
At Gigpro, we are committed to providing a solution to these labor challenges head-on with an open and transparent marketplace that efficiently and seamlessly connects businesses and skilled independent professionals. Our platform enables businesses and professionals to fill open shifts in real time, alleviating the stress of labor shortages and ensuring that operations run smoothly. At the same time we empower independent professionals to be their own business, generating additional income with complete flexibility and control.
In just three years, we have become the leading on-demand labor marketplace dedicated to the hospitality industry and the fastest-growing company in South Carolina. That said, we still have so much work to do for the 15 million professionals and nearly 2 million businesses that come together every day to create life’s special moments.
The infusion of capital from our Series A funding will allow us to create even more opportunities for hospitality professionals to find and achieve financial stability and career advancement, while also helping us expand our market presence and further refine the platform’s technological capabilities.
As we celebrate this milestone, I want to extend my heartfelt gratitude to the entire Gigpro community—the dedicated hospitality professionals and the visionary business owners who trust us to support their needs, our investors who believe in our mission, and the Gigpro employees who work tirelessly to make this marketplace function. Together, we are creating a win-win solution that is transforming the hospitality industry.
Thank you for being part of our journey. We are excited about the future and look forward to continuing to make a meaningful impact on the industry we love.
- Sam Mylrea, CEO of Gigpro
