Workrise

Marketplace and workforce-management platform for skilled energy, solar, and industrial trade workers

Marketplace 📍 Austin, TX Founded 2014

Current Valuation

$2.9B

as of 2022-Q1

UNICORN

Workrise (formerly RigUp) operates a marketplace for skilled trade contractors in oil & gas, solar, wind, and defense industries. Last raised $300M Series E in 2021 at a $2.9B valuation. The company has had multiple rounds of layoffs and exited several verticals since 2022, and no fresh primary valuation has been disclosed. Revenue last public ~$1.16B in 2021 with ~29% growth at the time of its Series E.

Company Profile

CEO

Mike Witte

Founded

2014

Austin, TX

Employees

~500

Total Raised

$752M

Est. Revenue

$1.2B (2021-FY)

Growth

later layoffs and verticals retrenchment 2022-2024

Last Round

Series E — $300M (Apr 2021) · Lead: Founders Fund

IPO Status

private

Founders & Key People

Xuan YongMike Witte

Investors

Andreessen Horowitz · Founders Fund · Bedrock Capital · Franklin Templeton · Baillie Gifford

Products

Workrise marketplace (oil & gas, solar, wind, defense)
Workforce management software
Payroll and contractor compliance

Competitors

BlueCrew · Instawork · ShiftMed · Tradesmen International

MarketplaceLaborEnergyWorkforceB2B