What is Work Market?
Headquartered in New York City, Work Market operates a sophisticated online platform and marketplace designed to streamline the engagement, management, and payment of contingent workers and IT talent. The company serves as a digital bridge between enterprises and the freelance workforce, providing robust tools for compliance, project tracking, and automated payroll. By digitizing the lifecycle of non-employee labor, Work Market enables organizations to scale their operations with agility, ensuring that complex talent acquisition processes are handled with precision and transparency. Its market position was further validated by its acquisition by Automatic Data Processing (ADP), a move that integrated its specialized capabilities into a broader payroll automation 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 Spark Capital, SoftBank Capital, Silicon Valley Bank, Union Square Ventures, and Industry Ventures
Series B (2015): $10M supported by Union Square Ventures, Spark Capital, and SoftBank
Series D (2017): $25M featuring Foundry Group and Accenture
Key Investors in Work Market
Foundry Group
Foundry Group is a venture capital firm focused on investing in early-stage information technology, Internet, and software startups, leveraging deep industry experience to support entrepreneurial growth.
Accenture
Accenture is a leading global professional services company that helps organizations build their digital core and optimize operations through technology, cloud, and AI expertise.
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, targeting innovative companies poised for growth.
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 global payroll and human capital management frameworks. The capital raised during its independent growth phase—culminating in the $25M round—provided the necessary runway to refine its technological core and expand its enterprise footprint. Moving forward, the synergy between Work Market’s agile talent management tools and ADP’s extensive service infrastructure is expected to set new benchmarks for how large-scale organizations manage blended workforces. The focus remains on enhancing operational efficiency, ensuring regulatory compliance across diverse jurisdictions, and leveraging data-driven insights to improve the overall quality of contingent labor engagements.
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