Korean startup Worksmate gets funding for its construction workforce management platform

In the construction industry workforce is quite an unorganized sector. Companies looking for skilled labor have to depend on market availability, and the labor force has to rummage for suitable work positions through word-of-mouth or previous work connections.

Korean startup Worksmate is trying to resolve problems for both construction companies and the workers through its construction workforce management platform ‘Gada’. The startup recently got its Pre-Series A investment from Korea Growth Finance and POSTECH Holdings Ltd.

Find daily gigs and daily workers with ease

The startup Worksmate operates Gada as a non-face-to-face services personnel intermediary platform that gives construction workers access to companies looking for skilled talent. The Gada mobile app mainly provides construction jobs for daily gig workers. Workers can go to work right in the morning without unnecessary waiting time by using the platform. The service connects construction contractors with daily gig workers, so helping them save time looking for workers. Gada services aim to resolve the wage liquidity problem in the construction sector’s daily labor market.

The service was started in August 2020 and had soon received seed investment then. The recent financing came for Worksmate when it participated in NH Nonghyup Bank’s startup collaboration program ‘NH Digital Challenge + 4th Demo Day’ and attracted investment from Korea Growth Finance. It also attracted investment from POSTECH Holdings Ltd., where it was selected for its acceleration program POSCO IMP.

Talking about the investment a Korea Growth Finance official, said, “Freelance workers’ Gada service is built to solve the liquidity of wages and is suitable to occupy the area of construction workers in the O2O (online and offline connection) market.” A POSTECH Holdings spokesperson talking about why the company invested in Worksmate, said, “Worksmate has built a business model that can be easily linked to loan services to ‘alternative credit evaluation’ through the data of workers who use the ‘Gada’ service.”

Se-won Kim, CEO of Worksmate, said, “The construction manpower brokerage mobile service ‘Gada’ leads the innovation of the existing construction human resources market and provides quality jobs to workers. It connects reliable workers to construction companies. We are working hard to create a service that can coexist.”

Meanwhile, Worksmate was also selected as the best participating company in the ‘8th Kibo Venture Camp Demo Day’ hosted by the Korea Technology Guarantee Fund in June. Worksmate’s mission is to help gig workers in construction sector find jobs in Korea and also help employer connect with desirable employees. It aims to become a unique platform in the O2O jobs market.

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