Ando Secures $4M Funding Round to Revolutionize Hourly Work Scheduling

Ando Secures Funding to Revolutionize Hourly Work Scheduling

In a significant development for the hourly workforce, Ando has successfully raised $4 million in a seed funding round. This funding was backed by prominent investors including Slow Ventures, Blitzscaling Ventures, and other notable firms. The primary goal of this capital infusion is to enhance Ando’s AI-driven forecasting and scheduling platform designed for the global hourly workforce.

The challenges faced by hourly workers are well documented. In the U.S. alone, there are approximately 80 million hourly employees contributing to about 146 billion work hours annually. However, existing systems for staffing and scheduling often fall short, leaving many workers facing a chaotic work-life balance. Shift changes at the very last minute disrupt not only their work schedules but also their childcare arrangements and transport plans. This chaos leads to an alarming turnover rate of about 150% for hourly positions, with businesses losing considerable amounts of money whenever an employee leaves. Each departure can cost employers upwards of $5,800 in training and replacement costs, not to mention the potential loss in sales for stores lacking adequate staffing when customers arrive.

Ando aims to mend this increasingly problematic landscape. The company’s platform utilizes artificial intelligence to accurately forecast demand for various locations, effectively matching staffing with real-time needs. This innovation allows teams to create schedules that align with the individual circumstances of workers, taking into account not just availability but also personal preferences and constraints such as school commitments and other jobs.

For over a year, Ando has catered to enterprise clients, demonstrating impressive traction with its solution. The platform boasts over 90% accuracy in demand predictions each day. Future enhancements include the ability to forecast and plan schedules at precise 15-minute intervals, which could further solidify its position in the market. So far, Ando has maintained a 100% conversion rate from client pitches to pilot projects, with perfect retention rates. Reports from select clients show they have achieved $60,000 to $80,000 in additional revenue as a result, although these figures are influenced by various operational factors.

“Many people think all workers have a steady, singular job, but that’s not true for a significant portion of hourly workers in restaurants,” said Paul Wellons, Founder and CEO of Ando. “In reality, a considerable number must piece together different jobs and income streams, especially in urban areas. Thus, when a schedule change occurs, it’s no small inconvenience; it can throw off childcare and transportation arrangements.”

Ando’s strategy acknowledges the complexity of workers' lives, aiming to create scheduling solutions that reduce uncertainty for both employees and managers.

Sam Lessin, a General Partner at Slow Ventures, elaborated on the significance of Ando’s mission, stating, “Labor systems are among the largest yet least modernized components of today’s economy. The evolution of the labor force towards more flexible models, combined with improving AI capabilities, presents a tremendous opportunity to upgrade these outdated systems.”

Throughout its mission, Ando continues to engage with an advisory group of leaders across the fields of technology, labor policy, and hospitality. This advisory board consists of several notable figures, including Niren Chaudhary, former CEO of Panera Brands, and others who bring a wealth of experience to the table.

In conclusion, Ando aims to revolutionize how hourly work is managed worldwide. By providing precise demand forecasts and intelligent staffing solutions, they strive to help businesses lower employee turnover while empowering workers with dependable schedules that suit their lives. As Ando moves forward, it appears poised to play a crucial role in redesigning the framework for hourly workers in the economy.

For more information, contact Ando at [email protected].