YellowBird, a software startup in Scottsdale that connects employers to environment, health and safety professionals, has raised $1.7 million in seed capital, according to an announcement from the company.
YellowBird Holdings Inc. will use the funding for two primary purposes: Hire staff to support market expansion and develop the company’s artificial intelligence platform. YellowBird is an on-demand gig economy marketplace where employers can find vetted EHS professionals.
The round featured investment from Ridge Peak Partners and News Orleans-based Revelry Venture Partners, as well as angel investment from Arizona Tech Investors, InvestU, Desert Angels and approximately 15 accredited investors from the Valley.
YellowBird said that the on-demand experts it supplied in the past year helped small businesses, schools and religious organizations develop safety plans and return-to-work protocols during the Covid-19 pandemic. The company also said the round was oversubscribed and that it was structured as a convertible note.
“This journey of building a company and raising seed stage capital, during a global pandemic, has been complex to say the least. The excitement and engagement from the venture and angel community truly exceeded our expectations,” YellowBird founder and CEO Michael Zalle said in a statement. “As YellowBird continues to scale our better way of sourcing risk and safety consulting on demand, we will stay very much focused on our mission of helping every employee return home safe every day.”
The company, which raised a $400,000 pre-seed round in March 2020, now has the resources it needs to scale, YellowBird’s chief product officer Anthony Argenziano said.
“While we have a great technical foundation that helped us get into the market and prove there is both a fit and need for our solution, closing this funding round provides the resources we need to scale and innovate,” he said in a statement. “Our technology based platform is the engine and competitive advantage, and therefore we must continually improve this platform to ensure we provide the best opportunities for risk and EHS professionals seeking gigs.”
Co-founder and COO Michelle Tinsley came to YellowBird after more than two decades at Intel Corp.
“The pandemic sharpened YellowBird’s focus,” she said in a written statement. “YellowBird is providing important regulatory guidance to businesses in several industries and creating job opportunities for thousands of experienced EHS workers.”
Tinsley knows both the entrepreneur and investor sides of the capital-raising process after years of membership in Arizona Tech Investors. She recently talked with the Business Journal about how creating a more diverse group of investors leads to better investment insights at ATI.
