US-based freelance staff management software provider WorkMarket has secured $25m in funding from investors including consulting firm Accenture and venture capital firm Foundry Group, the Wall Street Journal reported on Tuesday.
Founded in 2010, WorkMarket operates a platform that employers can use to find, verify and hire freelancers or contractors. Freelance workers can be organised by fields such as location or skills, and the software can also handle invoicing and payment.
In addition to investing in the company, Accenture will integrate WorkMarket’s software into its Cloud First Applications offering, which corporate clients use to strengthen their businesses through cloud adoption.
Stephen DeWitt, chief executive of WorkMarket, said in a blog post: “We share in Accenture’s vision that the future of work has already arrived, and digital leaders are fundamentally reinventing their workforces.
“Driven by a surge of on-demand labour platforms and online work management solutions, legacy models and hierarchies are being dissolved and replaced with talent marketplaces.”
WorkMarket had received $11m from investors including Union Square Ventures (USV) and Spark Capital when it added telecommunications group SoftBank’s corporate venturing unit, SoftBank Capital, for a $10m round in 2013.
USV subsequently led a $20m round at the start of 2015, investing together with SoftBank Capital, Spark Capital, Industry Ventures and Silicon Valley Bank.