Work Market Raises $10 Million
Work Market is a marketplace that businesses can use to manage freelancers and contractors. The company has raised $10 million in a round of funding that was led by Softbank Capital. Other investors that participated in this round include Spark Capital and Union Square Ventures.
Work Market previously raised $6 million from Union Square and Spark Capital in September 2011. Based in New York, Work Market started their “labor platform” three years ago. The company has 40 employees and around 250 clients that pay for access to the service. There are roughly 40,000 freelance workers that have accounts on Work Market.
Work Market charges a cost per month for frequent business users and a percentage of the whole contract for one-time users. Freelancers and contractors can use Work Market for free.
Jeff Leventhal, a co-founder of Work Market, previously launched a company called OnForce. OnForce raised around $27 million in funding since 2006. Both OnForce and Work Market focus on a flexible work force.
Jordan Levy, general partner at SoftBank Capital NY, will be joining Work Market’s board of directors as an observer.