What is Work Market?
Headquartered in New York City, Work Market operates a sophisticated online platform designed to streamline the management of contingent workers and specialized IT professionals. The company provides a comprehensive suite of tools that allow enterprises to source, manage, and pay their non-employee workforce with increased efficiency and compliance. By bridging the gap between businesses and the freelance economy, Work Market has positioned itself as an essential infrastructure provider for modern human capital management. Its market position was further solidified through strategic partnerships and significant capital injections, enabling the platform to scale its operations to meet the demands of global enterprise clients before its eventual integration into the ADP ecosystem.
How much funding has Work Market raised?
Work Market has raised a total of $61M across 4 funding rounds:
Series A
$6M
Series C
$20M
Series B
$10M
Series D
$25M
Series A (2010): $6M, investors not publicly disclosed
Series C (2015): $20M led by Union Square Ventures, SoftBank Capital, Spark Capital, Silicon Valley Bank, and Industry Ventures
Series B (2015): $10M supported by Spark Capital, SoftBank, and Union Square Ventures
Series D (2017): $25M featuring Accenture and Foundry Group
Key Investors in Work Market
Spark Capital
Spark Capital is a full-service investment banking company founded in 2001, providing strategic financial advisory and capital solutions.
Union Square Ventures
Union Square Ventures is a New York City-based venture capital firm that invests in transformative markets influenced by technological and societal changes.
Accenture
Accenture is a leading global professional services company that helps organizations build their digital core and optimize operations through technology and industry expertise.
What's next for Work Market?
Following its acquisition by ADP, the strategic focus for the Work Market platform has shifted toward deep integration within the broader payroll automation and human capital management suite. The capital raised during its independent growth phase, including the $25M injection, provided the necessary runway to refine its digital core and expand its service capabilities. Moving forward, the technology developed by Work Market is expected to continue driving innovation in how large-scale organizations manage their flexible workforce, leveraging cloud-based solutions to optimize operational workflows and enhance the overall value proposition for enterprise clients seeking agility in a competitive labor market.
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