Employment platform Spur has raised an $8 million Series A round led by venture capital firm Third Prime with participation from Mark Bezos (brother of Amazon CEO Jeff Bezos) and John Griffin, founder of Blue Ridge Capital.
Founded in 2017, the Huntsville, AL software company offers a payroll and HR solution to companies that rely on hourly workers, eliminating compliance issues like keeping up with regulations and administrative logistics.
This round is one of the largest venture investments ever raised by an Alabama company.
“We have benefited from the product and engineering talent that is so abundant in Huntsville and I think the best venture capitalists saw our presence in the Southeast as an advantage more than a hindrance,” CEO Glenn Clayton tells Hypepotamus.
The startup will use the funds to continue scaling into their main target industry, hospitality, as well as add key hires to its leadership team, expand to new metro areas, and fuel product development.
Spur focuses on hourly employees, of which there are nearly 78 million in the U.S. alone. The SaaS platform manages payroll, benefits, health insurance, and more, serving as a full HR hub for these employees.
Employees are also able to schedule shifts and approve their time through the platform.
“The result is a win-win for everyone. Increased productivity for the company and better quality of life for their workforce,” says Clayton. “We’ve built a product that can eliminate the administrative headaches businesses deal with related to hourly employee HR and payroll, resulting in higher productivity and cost savings.”
Clayton explains that Spur differentiates itself from the many payroll and HR software solutions as it takes responsibility off the hands of the company. The platform also shows enrolled employees additional side gigs through its job board.
“We’re combining innovative employment technology with an actual expertise in employment administration services to deliver a unique solution,” he says.
Spur serves clients like Yedla Hotel Management (a leading operator of Marriott Hotels), restaurants such as Saw’s BBQ and Ruth’s Chris Steakhouse, and Marsden, a leading provider of facility management and vendor services to the NFL.
“[We want] to help hourly workers improve their quality of life,” says Clayton.
Spur is currently available in Atlanta, Birmingham, Montgomery, Houston, and Orlando, with more cities coming soon.