Aug 30, 2021
Maybe this sounds familiar - You take an Uber to work. You do a group office lunch order from DoorDash. You figure out what you’re cooking for dinner tonight and get your groceries from Instacart. On your Uber home, you schedule your Rinse to drop off your laundry and later, your friends are coming over so you order wine from GoPuff. The gig economy in today’s society is ubiquitous and the ease and speed for end users have changed consumer behavior forever.
Behind every single one of these transactions is a gig worker. The gig labor force is growing as the jobs’ flexibility and autonomy attracts more people. There are dozens of options today, and it’s not uncommon for people to work between multiple platforms to try and maximize earnings. However, the flexibility and breadth of options make optimizing for steady and higher wages more challenging.
Solo is a “business-in-a-box” solution, giving power back to gig workers with data and tools for better income visibility and stability. The product helps users manage goals across multiple jobs, understand peak pay rates in their city, and move seamlessly between the jobs that fit their schedule. Currently, the team is focused on pay prediction and guarantees, but their roadmap includes a full suite of products and services to become a one-stop shop for gig workers.
Today, we’re proud to announce Solo’s $5.3m seed round, including the pre-seed led by Expa. We are thrilled to partner with Bryce Bennett, Keith Ng, and the rest of the Solo team and welcome Slow Ventures, Red Sea, Harry Campbell (The Rideshare Guy), and others to this round.
Becoming the one-stop shop for the rapidly growing gig workforce
There are over 60m people in the gig labor force today, which continues to grow as workers are attracted to its flexibility and convenience. Unfortunately, our current employment system isn’t set up well for the gig economy with few resources provided. Solo’s platform offers data and tools to empower this workforce. The team’s longer term vision is to provide additional help to gig workers related to insurance, taxes, mileage tracking, and more.
Experienced team with a mission that puts gig workers first
From the first time we met Bryce and Keith, it was clear they truly understood the problem. They worked together for years at both Uber and Convoy (Expa portfolio companies) and spoke with thousands of gig workers to dive deeper into their biggest pain points. Bryce and Keith are passionate about Solo’s mission to provide transparency and a reliable source of income without sacrificing flexibility. Concurrently, Solo is building a strong community of gig workers who can support and learn from each other.
Harry Campbell (The Rideshare Guy), who is joining this round says, “From their planning and goal setting features to their one of a kind 'earnings guarantees', Solo is a company that is truly focused on building solutions that gig workers need.”
Helping workers navigate the evolving landscape
The gig economy landscape is quickly evolving and Solo can help workers navigate these changes. There are more options than ever for app-based work, from ridesharing and food delivery, to dog walking, laundry, moving, and more. On Solo, users can connect all of their accounts seamlessly. In addition, as the regulatory landscape develops in the US, Solo is uniquely positioned to help both workers and gig platforms.
Congratulations to Bryce, Keith, and the Solo team. We can’t wait to see how you reimagine what independent work looks like in the 21st century! Read more here and see their job openings here!