NEW ORLEANS — Advantage Capital, an impact investing firm, has announced a $4 million investment in Goodwrx, a Las Vegas-based company providing a tech-enabled platform that pairs hospitality workers with employers looking to supplement their existing workforce.
The Goodwrx platform offers a solution to a problem rooted in an historically inefficient hospitality labor market. The platform allows employers to staff shifts that might otherwise go unfilled and provides hospitality workers more opportunity to reach full employment.
“We want to offer people greater access to good work, and hospitality provides the ability to have access to good workers,” said Nathan Armogan, Goodwrx CEO. “Our platform solves a decades-long problem by connecting workers and employers in real time, allowing both to benefit. We are fortunate to have found a capital partner, who along with our other valued partners, share our vision to reshape the gig economy and provide quality outcomes for both workers and businesses. With this investment, we will be able to expand our services, reach a larger labor pool and allow people to find good paying jobs throughout the country.”
Since launching the platform in 2021, Goodwrx said it has seen a large uptake in usage by many of the major regional and national players across the Leisure, Travel and Hospital industry spectrum.
“By providing some of the highest fill rates in the industry, we have earned our spot as the properties’ single source of contract labor. Whether they need cooks, servers, dishwashers, bartenders, porters, front desk agents, etc. we have the citywide extra board that connects businesses to the best talent in the industry,” said Teri Chan Palomaki, CFO, Goodwrx.
“Goodwrx’ platform is highly innovative and is a great asset for employers and employees in the hospitality industry,” said Leah Hendricks, Senior Vice President, Advantage Capital. “Additionally, it is the kind of growth-ready business we are looking for when we invest. On top of a great business model, the company is creating a significant impact by connecting people to strong employment opportunities.”
To facilitate the investment, the Nevada Small Business Development Center at the University of Nevada, Las Vegas helped connect Advantage Capital and Goodwrx. The deal was also made in connection with the Federal New Market Tax Credit program—an economic development program that helps drive capital to small businesses in distressed communities.
