ERP Startup VNDLY Raises $11 Million in Series A Funding
VNDLY, Inc., a cloud-based work management system geared to the new gig economy, closed $11 million in Series A funding, bringing the company’s total funding to $14 million. The financing was led by Battery Ventures and Hyde Park Venture Partners, with participation from EPIC Ventures, Bowery Capital, and the Cintrifuse Syndicate Fund.
According to the company, 35% of the Fortune 500 workforce is comprised of contractor and consultant non-employees, and is predicted to increase to 50% by 2023. To address this, VNDLY strives to solve such employer problems as sourcing talent, onboarding, training, payment, and off-boarding by serving as the “ERP of record,” managing the entire non-employee engagement lifecycle.
The company plans to use the investment to drive product innovation, customer adoption, and global expansion.