Homebase

Homebase is an employee scheduling software and time tracking software company headquartered in San Francisco, California^[1]. It provides time tracking, employee scheduling, hiring, and team communication tools for local small businesses. Homebase has a freemium business model providing a version of its software for free alongside other paid versions with more features. As of 2018, the company has more than 100,000 businesses using its software throughout the United States.^[2]

John Waldmann and Rushi Patel launched Homebase in 2015.

In response to the COVID-19 pandemic, Homebase began sharing data on how the pandemic was impacting hourly work at local small businesses, which was then shared by The New York Times, The Wall Street Journal, CNBC, The Atlantic, and other news sources.^[3]^[4]^[5]^[6]

History

Early years

Homebase was founded by John Waldmann and Rushi Patel in 2015. The two met while working at KKR and founded the company after Waldmann graduated from the Stanford Graduate School of Business.

Growth

In August 2016, Homebase raised a $6 million Series A led by Khosla Ventures with participation from Baseline Ventures and Cowboy Ventures.^[7] In 2016, the company had recorded 20 million shifts worked across 50,000 small businesses.^[7] In June 2018, the company raised a $20 million Series B led by Bain Capital Ventures with participation from Khosla Ventures, Baseline Ventures, Cowboy Ventures, and others.^[8] In 2018, the company had more than 100,000 businesses using its solutions.

Employment Data

Coverage

In response to the COVID-19 pandemic, Homebase began releasing internal data on the impact the pandemic was having on the number of employees working and the number of businesses open vs. pre-COVID levels. Homebase data became an indicator of Homebase data was used by Drexel University and the University of Chicago Booth School of Business to determine the impact of COVID-19 on U.S. employment and hours worked.^[9]^[10] CNBC senior economics reporter Steve Liesman added Homebase data to his 'Road Back Barometer' as a way to track economic recovery from the COVID-19 pandemic.^[11] Homebase data was also included in reports by the Federal Reserve and the St. Louis Reserve as an indicator of economic recovery.^[12]^[13]

References

↑ "About Homebase Free Work Scheduling, Time Tracking and Hiring Tools" (in en-US). https://joinhomebase.com/about-us/.
↑ Nichols, Hans. "The numbers behind the jobs numbers don't look so hot" (in en). https://www.axios.com/white-house-private-jobs-data-11579c75-79ef-467b-b37a-47e9a0548b7b.html.
↑ Tankersley, Jim; Casselman, Ben (2020-07-01). "The ‘Rocket Ship’ Economic Recovery Is Crashing" (in en-US). The New York Times. ISSN 0362-4331. https://www.nytimes.com/2020/07/01/business/economic-recovery-virus-surge.html.
↑ Ip, Greg (2020-07-01). "A Recovery That Started Out Like a V Is Changing Shape" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/a-reverse-square-root-recovery-11593602775.
↑ Pound, Jesse (2020-06-26). "Employment recovery may be slowing as virus cases climb" (in en). https://www.cnbc.com/2020/06/26/the-employment-recovery-may-be-slowing-as-virus-cases-climb.html.
↑ Lowrey, Annie (2020-07-15). "The Terrifying Next Phase of the Coronavirus Recession" (in en-US). https://www.theatlantic.com/ideas/archive/2020/07/terrifying-next-phase-coronavirus-recession/614140/.
↑ ^7.0 ^7.1 "Homebase raises $6 million to make hourly work easier to manage for local businesses" (in en-US). https://social.techcrunch.com/2016/08/04/homebase-raises-6-million-to-make-hourly-work-easier-to-manage-for-local-businesses/.
↑ FinSMEs (2018-06-08). "Homebase Raises $20M in Series B Funding" (in en-US). http://www.finsmes.com/2018/06/homebase-raises-20m-in-series-b-funding.html.
↑ "The Impact of COVID-19 on U.S. Employment and Hours: Real-Time Estimates With Homebase Data" (in en). https://www.lebow.drexel.edu/people/andrekurmann/papers/covid-2019-employment.
↑ "WEEK 1: Labor Market Impacts of COVID-19 on Hourly Workers in Small- and Medium-Sized Businesses: Four Facts from Homebase Data - Rustandy Center | Chicago Booth". https://www.chicagobooth.edu/research/rustandy/blog/2020/labor-market-impacts-from-covid19.
↑ "Rise in new Covid-19 cases slows economic recovery" (in en). 2020-06-26. https://www.cnbc.com/video/2020/06/26/rise-in-new-covid-19-cases-slows-economic-recovery.html.
↑ "The Fed - Monetary Policy: Monetary Policy Report" (in en). https://www.federalreserve.gov/monetarypolicy/2020-06-mpr-part1.htm.
↑ "Reading the Labor Market in Real Time | St. Louis Fed". https://www.stlouisfed.org/on-the-economy/2020/june/reading-labor-market-real-time.

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[1] "About Homebase Free Work Scheduling, Time Tracking and Hiring Tools" (in en-US). https://joinhomebase.com/about-us/.

[2] Nichols, Hans. "The numbers behind the jobs numbers don't look so hot" (in en). https://www.axios.com/white-house-private-jobs-data-11579c75-79ef-467b-b37a-47e9a0548b7b.html.

[3] Tankersley, Jim; Casselman, Ben (2020-07-01). "The ‘Rocket Ship’ Economic Recovery Is Crashing" (in en-US). The New York Times. ISSN 0362-4331. https://www.nytimes.com/2020/07/01/business/economic-recovery-virus-surge.html.

[4] Ip, Greg (2020-07-01). "A Recovery That Started Out Like a V Is Changing Shape" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/a-reverse-square-root-recovery-11593602775.

[5] Pound, Jesse (2020-06-26). "Employment recovery may be slowing as virus cases climb" (in en). https://www.cnbc.com/2020/06/26/the-employment-recovery-may-be-slowing-as-virus-cases-climb.html.

[6] Lowrey, Annie (2020-07-15). "The Terrifying Next Phase of the Coronavirus Recession" (in en-US). https://www.theatlantic.com/ideas/archive/2020/07/terrifying-next-phase-coronavirus-recession/614140/.

[:0-7] 7.0 ^7.1 "Homebase raises $6 million to make hourly work easier to manage for local businesses" (in en-US). https://social.techcrunch.com/2016/08/04/homebase-raises-6-million-to-make-hourly-work-easier-to-manage-for-local-businesses/.

[8] FinSMEs (2018-06-08). "Homebase Raises $20M in Series B Funding" (in en-US). http://www.finsmes.com/2018/06/homebase-raises-20m-in-series-b-funding.html.

[9] "The Impact of COVID-19 on U.S. Employment and Hours: Real-Time Estimates With Homebase Data" (in en). https://www.lebow.drexel.edu/people/andrekurmann/papers/covid-2019-employment.

[10] "WEEK 1: Labor Market Impacts of COVID-19 on Hourly Workers in Small- and Medium-Sized Businesses: Four Facts from Homebase Data - Rustandy Center | Chicago Booth". https://www.chicagobooth.edu/research/rustandy/blog/2020/labor-market-impacts-from-covid19.

[11] "Rise in new Covid-19 cases slows economic recovery" (in en). 2020-06-26. https://www.cnbc.com/video/2020/06/26/rise-in-new-covid-19-cases-slows-economic-recovery.html.

[12] "The Fed - Monetary Policy: Monetary Policy Report" (in en). https://www.federalreserve.gov/monetarypolicy/2020-06-mpr-part1.htm.

[13] "Reading the Labor Market in Real Time | St. Louis Fed". https://www.stlouisfed.org/on-the-economy/2020/june/reading-labor-market-real-time.

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