Automated hiring platform startup Workstream Technologies Inc. announced today it has raised $48 million in new funding to invest in growth and product development.

BOND and Coatue led the Series B round. Other investors included Founders Fund and a range of individual inventors, including Eric Yuan, chief executive officer of Zoom Video Communications Inc., and Tony Xu, CEO of DoorDash Inc.

Founded in 2017, Workstream is an automated hiring platform for companies that employ hourly workers. The company’s platform offers a mobile app with a text recruiting service that seeks to connect jobs seekers with hourly positions. The service is claimed to reduce hiring time by 70%.

The company pitches itself as giving the deskless workforce a better hiring experience. Workstream’s recruiting platform automates how local businesses source, screen and onboard candidates.

The company has grown by a multiple of 10 times in the last year, off an undisclosed base, and now has more than 15,000 customers across 10,000 locations. Notable customers include Chick-fil-A, Wingstop and Jimmy John’s franchises.

The company was founded by three immigrants: Chief Executive Officer Desmond Lim, Chief Technology Officer Max Wang and Chief Product Officer Lei Xu. Lim, not to be confused with the Singaporean politician of the same name, is a Harvard University and Massachusetts Institute of Technology graduate with a long history as a founder of startups. Having founded a Thai restaurant in Singapore in 2008, he held roles at Bank of America Merrill Lynch before working at WeChat and then founded logistics startup QuikForce Inc in 2014.

“When it comes to hiring platforms, local businesses and deskless workers have largely been overlooked, which is why we started Workstream,” Lim said in a statement. “We set out to give local businesses the tools they need to hire hourly workers faster, and we are humbled by the momentum and the results our customers have seen.

Including the new funding, Workstream has raised $58 million to date, according to Crunchbase. Previous investors include GGV Capital, Peterson Ventures, Basis Set Ventures and Roc Nation.

Photo: Workstream