Manufacturing Gig Platform FactoryFix Raises $1.5M, Relocates to WI
Summary
Part of the idea behind forming the committee is that these interactions might lead the parties involved to make joint investments in startups, Einhorn says.Other investors joining Capital Midwest in the $1.5 million deal included Madison-based Lancaster Investments and wealthy individuals, some of whom are executives at manufacturing companies, O’Rahilly says.The startup’s Web-based software platform connects manufacturing businesses with skilled workers , a category that encompasses electricians, machinists, robot programmers, welders, and other specialists.FactoryFix designed its software to help employers fill their short-term staffing needs, though temporary assignments can sometimes lead to full-time job offers.Its business model is similar to a traditional staffing agency in that it’s FactoryFix, not the employer, that handles most of the paperwork and pays workers.
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