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May 31, 2022

Gridwise Raises New Funds in Sign VCs Still Have Faith in Gig-Worker Economy

Gridwise Inc., an app that helps ride-share drivers and delivery couriers keep track of their work, raised $12.7 million in funding, a sign of confidence from venture capital investors that the gig economy will continue to grow even as volatility roils technology companies.

The funding was led by Crosslink Capital with participation from Autotech Ventures, Switch Ventures and Massive VC, among others. 

Founded in 2016, the Gridwise app helps gig workers on platforms like Uber Technologies Inc, DoorDash Inc. and Instacart Inc. track earnings and expenses across all of their side hustles and offers tips on how to bolster take-home pay. The app, which is free to download, also connects drivers and couriers to benefits such as dental, vision and car insurance products.

“The pandemic was a difficult time, but it also helped us better understand how to help the drivers who depend on our app to make the most of their work,” said co-founder and Chief Executive Officer Ryan Green. “We understand better than anyone the supply and demand patterns, where drivers are working, which apps, when they stop and the economics of their trips.” Read rest here