7GC has invested in Jyve, the leading "Skills as a Service" talent platform in an opportunistic funding as of September 2019.
Jyve operates a machine learning powered marketplace to match variable "gig workers" to consumer packaged goods (CPG) companies and supermarket retailers. "Jyvers" can complete a variety of tasks related to inventory stocking, order fulfillment, and both the displaying & auditing of merchandise directly on the shelf.
Jyvers work in store on behalf of CPG giants which contract with Jyve and historically have had to manage their own full time employees for this function. CPG giants current pay in a range of 5-10% of total revenues in order to manage this essential function with retailers.
The company operates a skills marketplace in which workers can unlock higher paying tasks based on prior performance. Workers are able to maximize their compensation by demonstrating efficiency and quality of work while the CPG firms are now able to receive a level of quality control and transparency previously unavailable within the supermarket.
The firm counts industry giants such as PepsiCo, Walmart and Mondelez among its customers and is operating in over 4,000 stores across the country. Jyve has previously been backed by NEA, SignalFire, Silicon Valley Bank Capital, Ridge Ventures, CrossCut Ventures and Boldstart Ventures.