Upwork Global Inc.
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Upwork Global Inc. - overview
Established
2013
Location
Palo Alto, CA, US
Primary Industry
Internet
About
Upwork Global Inc. is a leading online talent marketplace that connects businesses with freelancers across various sectors, facilitating efficient project management and collaboration through its platform. Founded in 2013 and headquartered in Palo Alto, US, Upwork Global Inc. operates an online platform that connects clients with freelancers for various projects.
The company successfully completed its IPO in October 2018, raising USD 187 mn by selling 12. 5 million shares at USD 15 per share on Nasdaq. The founders include Abhinav Jain, Adeola Adetunji, Ahmed Abdelnasser, and others. Upwork has engaged in three funding deals, with the latest round being the IPO in 2018, which raised the total amount to USD 187 mn.
Upwork offers a comprehensive online talent marketplace connecting businesses with freelancers in development and tech, design and creative, marketing, writing, and administrative support. Clients can post job listings, receive proposals, and manage projects with AI-powered tools. The platform features project tracking, secure payment processing, and subscription plans for hiring freelancers. Its client base includes small to medium-sized enterprises and large corporations, catering to diverse industries globally, especially in North America, Europe, and parts of Asia.
For the fiscal year 2024, Upwork reported a revenue of USD 769. 33 mn and an EBITDA of USD 80. 02 mn. The company generates revenue primarily through service fees on transactions between clients and freelancers, with the Basic plan imposing a 5% service fee and the Business Plus plan a 10% fee, allowing flexibility for various project types.
Upwork is focused on expanding its product offerings and geographic reach. The company aims to enhance its platform with new features designed to improve user experience, although specific launch dates are not disclosed. Following its IPO in October 2018, Upwork plans to utilize the raised funds to support growth initiatives and enhance its market presence, targeting expansion into additional regions and sectors.
Current Investors
Benchmark, Focus Ventures, Globespan Capital Partners
Primary Industry
Internet
Sub Industries
Social Networking & Communication Platform, HR & Workforce Software
Website
www.upwork.com
Verticals
Cloud Computing
Company Stage
Mature
Total Amount Raised
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