Work Market lands $10m to bring its service for managing freelance workforces out of stealth mode

Work Market, a service that connects employers and freelancers in the business and enterprise space, has closed a $10 million round of investment led by SoftBank Capital.

The round included participation from existing investors Union Square Ventures and Spark Capital, and sees SoftBank Capital General Partner Jordan Levy join the board as an observer.

The three-year-old startup operates in the US, where it acts as an outsourced human resources platform that lets its business-focused customers manage their short- and long-term freelancers, contractors and consultants. The New York-based company says the new funding will go towards expanding its sales and marketing teams, as it brings the service out of stealth mode.

Beyond simply being a marketplace for jobs and contractor resumes, Work Market allows freelancers to manage their work commitments. Employees can use the service dashboard and mobile apps to arrange their schedule, manage their income from work and more.

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Work Market says its corporate customer base of 250 companies includes Omnicom, Adecco and Lockheed Martin, and that nearly 10,000 users are engaged in work each day.

The company has been quietly making progress without generating a tonne of noise, in that it didn’t have a public-facing website or attractive sign-up page until last year. That, a spokesperson explains, was a very deliberate ploy since Work Place didn’t want to be inundated by freelancers without first having a client base to serve them.

Now that the latter is in place and it has fresh investment, the company is ramping up its efforts to attract more users to its service, as CEO and co-founder Jeff Leventhal explains:

It is now time to raise the profile of our business and broaden our sales reach, and this capital round allows us to do just that. We are also thrilled to add Jordy Levy to the team given his extensive experience in scaling enterprise businesses.

Work Market raised a $6 million investment round from Union Square Ventures and Spark Capital in 2010.

Headline image via ThinkStock