Dive Brief:

• Snagajob, the nation's largest marketplace for hourly work, has completed a $100 million Rho Acceleration-led investment with NewSpring Capital and the Invus Group.
• Founded in 2000, Snagajob works with more than 65 million members and nearly 200,000 employers, including nearly half of the brands on the Fortune 1000. 
• The investment follows a period of Snagajob's massive growth. Since 2013, it has nearly doubled its revenue derived from employers and more than doubled its mobile traffic. The Washington D.C.-based company also grew its own workforce by 30% over the past two years.

Dive Insight:

This cash infusion signals that technology finally may be catching up with the nation's hourly workforce, a good thing for employers who depend on hourly workers to keep their workforce pipelines full.

Peter Harrison, Snagajob's CEO, calls it "an exciting time for our industry," but adds that it's unfortunate that in the age of on-demand everything, the average hourly job seeker is offered no greater efficiencies when looking for a job. To Harrison, it should only take minutes to secure hourly work, not the days and weeks it takes today. 

Habib Kairouz, managing partner at Rho Acceleration, notes that the tightening labor market, growing ubiquity of mobile devices and the rise of the on-demand economy provide the perfect storm for Snagajob to transform the way hourly workers find work and employers find that type of worker.