Seasoned Raises $18.7M to Revolutionize Restaurant Hiring

Addressing Restaurant Staffing Challenges with Innovative Technology

The current labor market presents significant hurdles for restaurants seeking to hire. Recognizing this widespread difficulty, one company is pioneering a new platform designed to streamline the hiring process and build a robust network of restaurant workers.

Seasoned Secures Series A Funding

Seasoned announced on Tuesday the successful completion of an $18.7 million Series A funding round. This investment will be used to further develop its mobile application and associated recruitment tools. Currently, these tools are utilized by a network exceeding 250,000 restaurant professionals.

Persistent Labor Shortages in the Restaurant Industry

According to data from the Bureau of Labor Statistics, approximately 800,000 positions remained vacant at eating and drinking establishments as of October. Seasoned CEO, Ware Sykes, explained to TechCrunch that the challenges of restaurant hiring existed prior to the pandemic, but have been significantly amplified over the last 18 months.

A Two-Sided Solution for Restaurants and Workers

Sykes identified a key issue: the limited avenues available for restaurants to effectively advertise job opportunities. This observation led to the creation of Seasoned. The platform operates with a dual structure.

• A free community is provided for industry employees to explore openings, arrange interviews, and connect with colleagues.
• A subscription-based hiring tool assists restaurant managers in reducing onboarding expenses and accelerating the hiring timeline to under three hours.

“Our core objective is to unite the service industry – both the workforce and the restaurants – fostering mutual success,” Sykes stated. “We offer a social environment where workers can secure employment within 24 hours. Unlike many other solutions, our platform is specifically designed for the unique needs of the restaurant sector.”

Investment in Hourly Worker Tools is Increasing

Seasoned is not alone in attracting investment for tools focused on hourly workers. Fountain recently secured $85 million in Series C funding for its applicant tracking system. Workstream also raised $48 million in Series B funding, utilizing a text-based recruitment strategy. Furthermore, Bite Ninja has received seed funding to advance its software, which allows employees to remotely manage drive-thru shifts.

Seasoned’s Differentiated Approach

Sykes emphasizes that Seasoned’s two-sided app distinguishes it from competitors. He attributes the company’s successful launch in Dallas in 2020, attracting over 300 brands with 100,000 locations in its first year, to this unique business model.

Funding Details and Future Expansion

The latest funding round was spearheaded by Horizons Ventures, with participation from TPG Growth and existing investors. This follows a $12 million seed round completed in June, bringing the company’s total funding to over $30 million since its founding a year ago.

Plans for Growth and Innovation

Sykes plans to allocate the new capital towards expanding into additional markets. Beyond its current presence in Dallas, Houston, Austin, Orlando, and Miami, the company anticipates a national rollout within the next year. He also intends to expand the team across various departments, including product development, technology, marketing, and data science.

“This is evolving into a significant trend,” Sykes concluded. “Restaurants are now not only advertising wages but also offering sign-on bonuses and increasing pay rates across the board. The more data we gather, the better we can understand which benefits are most appealing to employees.”