Germany-based online freelance community Twago has picked up an undisclosed amount of funding from human resources company Randstad through its corporate venturing unit, Randstad Innovation Fund
Randstad Innovation Fund, launched in April, plans to invest $10m in 2014, targeting early-stage companies relating to the human resources sector. It invested in Twago as part of a strategic partnership the companies have formed.
Twago is Europe’s largest freelancer marketplace, through which small and medium-sized businesses can find contractors for online projects such as programming and design. The website offers its service in five languages.
Thomas Jajeh, Twago’s managing director, said the strategic investment had been made in order to “improve our service portfolio and our leadership as the pan-European freelance marketplace”.
Twago received $3m in series A funding in 2012 from Euroserve and GMPVC, after $141,000 in seed financing had been raised from angel investors in 2009.