Casual and temporary staffing platform Sidekicker has secured $20 million in funding from Seek Investments as it adapts to the significant increase in demand in the space following the lifting of lockdown measures across Australia and New Zealand.
Currently placing an average of 2,500 workers, known as sidekicks, into jobs each week, the Melbourne-based company aims to help businesses experiencing worker shortages due to the pandemic's ongoing effects on the labour market.
Sidekicker CEO Thomas Amos, who co-founded the company with Jacqui Bull in 2013, said that the company’s continued growth is due to businesses switching from traditional hiring models and turning to platforms like Sidekicker.
“We're very pleased to have the backing of SEEK Investments. This funding round will allow us to continue to invest in expanding our current categories across ANZ whilst delivering new capabilities to our platform that will benefit both our Sidekicks and customers,” Amos said.
“Our continued growth is evidence that we are addressing demand for both employees and workers, and this additional funding will continue to ensure we empower anyone choosing to participate in the casual and temporary employment market; whether they be uni students seeking flexible work around their studies, parents re-entering the workforce, or international visa holders."
The Melbourne-based company’s revenue grew by more than 70 per cent in the past year, with industries like hospitality and healthcare, in particular, increasing their casual rates considerably with many worker rates now above the minimum wage.
Due to the increased competition to secure relevant talent, rates in these two sectors have increased by 15-25 per cent in the past six months, with some roles registering more than a 30 per cent increase.
As more businesses turn to Sidekicker for staffing support, the latest funding will be put towards platform updates and accelerating further expansion across Australia and New Zealand.
To date, Sidekicker has provided opportunities to more than 40,000 casual workers at 5,000-plus organisations across Australia and New Zealand, including some of the world’s most influential industry leaders, such as Uber, Airbnb, Crown and AusPost.
SEEK Investments CEO Andrew Bassat is pleased to support Sidekicker in its next growth phase.
“We are strong believers in Sidekicker’s strategy, innovative solution set, and are excited to support the team as Sidekicker continues its growth journey,” he said.
Bassat, the co-founder of Seek (ASX: SEK), stood down from his role as CEO of Seek in 2021 to take the helm of the venture capital off-shoot Seek Investments.
The Sidekicker platform has disrupted the old recruitment model by providing sidekicks with an easy way to access casual work as and when they choose. A two-way rating and review system drives staff accountability and reliability while allowing businesses to choose their desired candidates.
With offices in Melbourne, Sydney, Brisbane, Perth, Auckland and Wellington, Sidekicker currently has more than 12,000 casual workers on the platform.
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