A McKinsey study found that 70% of retailers plan to rely more heavily on flexible labor over the next three years. Stores are struggling to have the right people scheduled to work at the right times, while the needs of the new omnichannel sales approach are breaking established in-store labor models.
The seed funding enables Reflex to enhance its product experience for retailers and workers, and the company will accelerate hiring across operations, growth and engineering.Ī Better Way to Work in Retail: Gig Is Out Flex Is In The company will use the new capital to expand across Texas through the remainder of 2022, as well as add additional major U.S. People want to work on their terms and design their work around their life, not the other way around." "We’ve proven in our first year that there is a better way to work in retail. "Everyone deserves to be able to design a life where the things that matter most come first, instead of planning your life around work," Reflex co-founder and CEO Mike Meyers said. Reflex now gives workers the ability to work in retail without sacrificing flexibility and empowers workers to make extra money on their terms and schedules. Retail workers are rejecting conventional work schedules, and they are leaving retail for more flexible opportunities where they can choose when and where they work. The traditional gig worker doesn’t fit well into this model - retailers want associates with retail experience, but in an on-demand way that doesn’t compromise the in-store customer experience.Ī Dual-Sided Marketplace That Solves Retail’s Biggest Challenge Reflex helps retailers find the labor they need to meet in-store demand while ensuring retailers aren’t overspending or underspending on labor. Even with the boom in online shopping, shoppers still value the in-store experience, and the majority of retail revenue still comes from brick and mortar. Reflex offers store leaders and workers a marketplace that supports today’s retail store environment. Also investing were RetailMeNot founder Cotter Cunningham and Favor CEO Jag Bath. The Austin-headquartered retail marketplace startup has quietly compiled an all-star lineup of angel investors, including retail veterans Jim Scully (former CFO and Chief Administrative Officer at J.Crew), Mike Tucci (former President of Coach’s North American retail division) and Ron Sargent (former chairman and CEO of Staples). All previous investors participated in the seed round, including ATX Venture Partners, Precursor Ventures, Active Capital and Clutch VC. The latest round brings the total raised to $5.95 million after Reflex raised an initial $1.45 million pre-seed round in 2021.
Mike Meyers and Carson Jones, co-founders of Reflex (Photo: Business Wire)
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