WorkMarket

Last updated
WorkMarket by ADP
IndustryEnterprise software
Founded2010
FoundersJeffrey Leventhal
Headquarters
New York, New York
Number of employees
156 [1]
Parent Automatic Data Processing (ADP)
Website workmarket.com

WorkMarket is a New York City-based company that provides an online platform and marketplace for businesses to manage contingent workers and IT talent. [2] The company was founded in May 2010 by Jeffrey Leventhal. [3]

Contents

In January 2018, WorkMarket was acquired by the payroll automation firm, Automatic Data Processing (ADP) for an undisclosed amount. [4]

Software

The company markets its online platform and marketplace directly and through partnerships to business that work with and leverage freelancers, contractors, and consultants as part of their overall talent strategy. [3] Many companies also use WorkMarket independently from the marketplace to manage their existing freelance talent communities. [3] [5]

WorkMarket allows "buyers" to find workers, verify credentials, engage and onboard talent, manage work assignments and projects, process payments, and rate workers. [6] For workers, WorkMarket provides a marketplace to search and apply for assignments, share resumes, and build digital portfolios. Both companies and workers use WorkMarket's dashboard to manage current assignments. Workers can use the mobile app to find and manage assignments.

History

CEO and founder Jeffrey Leventhal conceived of the idea for WorkMarket after founding and selling OnForce, a previous online marketplace business he started that helped manage IT talent. [3] [7] His industry experience led him to believe that there was an opportunity to provide a more efficient method for hiring and managing 1099 contractors. [3] To form a founding team, Leventhal agreed to partner with Jeffrey Wald. In 2011, the company launched a beta version of the WorkMarket platform to a group of 20 companies. Initially, WorkMarket operated as an invitation-only service while it worked to build a large base of corporate clients. [3] [6]

In January 2015, WorkMarket hired Stephen DeWitt as its CEO. [8]

WorkMarket's board of directors and advisor team includes Union Square Ventures' Fred Wilson, [9] Spark Capital's Mo Koyfman, [10] Jeffrey Leventhal, Tig Gilliam, [11] and Jordan Levy. [6] Tig Gilliam was named chairman in February 2015. [12]

Between 2010 and 2017, WorkMarket raised a total of $60+ million in venture funding. [1] [3] [6]

Recognition

Gartner recognized WorkMarket as a Cool Vendor in Procurement Sourcing in 2015. [13] WorkMarket has also been featured in Spend Matters research. [14]

Having experienced two-year growth of 581%, WorkMarket was named No. 20 on the 2014 list of Crain's New York Business Fast 50. [15] WorkMarket has also been recognized by Forbes as one of America's Most Promising Companies for 2014. [1] [16] [17]

Jeffrey Leventhal has also been honored as Staffing Industry Analysts Top 100 [18] and he and Jeffrey Wald have been cited on the changing freelance economy by Bloomberg, Fortune , Huffington Post, Staffing Industry Analysts, CRN Magazine , Entrepreneur , IT Business Edge, U.S. News & World Report , and HR.com.

Related Research Articles

<span class="mw-page-title-main">Temporary work</span> Type of employment

Temporary work or temporary employment refers to an employment situation where the working arrangement is limited to a certain period of time-based on the needs of the employing organization. Temporary employees are sometimes called "contractual", "seasonal", "interim", "casual staff", "outsourcing", and "freelance"; or the words may be shortened to "temps". In some instances, temporary, highly skilled professionals refer to themselves as consultants. Increasingly, executive-level positions are also filled with interim executives or fractional executives.

Freelance, freelancer, or freelance worker, are terms commonly used for a person who is self-employed and not necessarily committed to a particular employer long-term. Freelance workers are sometimes represented by a company or a temporary agency that resells freelance labor to clients; others work independently or use professional associations or websites to get work.

Guru.com is a freelance marketplace. It allows companies to find freelance workers for commissioned work. Founded in 1998 and headquartered in Pittsburgh, Guru was initially known as eMoonlighter.com.

<span class="mw-page-title-main">Adecco</span> Swiss multinational human resource consulting company

The Adecco Group is a Swiss–French company based in Zürich, Switzerland. It is the world's second largest human resources provider and temporary staffing firm. It is a Fortune Global 500 company and is listed on the SIX Swiss Exchange.

<span class="mw-page-title-main">Employment agency</span> Organization which matches employers to employees

An employment agency is an organization which matches employers to employees. In developed countries, there are multiple private businesses which act as employment agencies and a publicly funded employment agency.

Upwork Global Inc., formerly Elance-oDesk, is an American freelancing platform headquartered in Santa Clara and San Francisco, California. The company was formed in 2013 as Elance-oDesk after the merger of Elance Inc. and oDesk Corp. The merged company was subsequently rebranded as Upwork in 2015.

Freelancer is an Australian freelance marketplace website, which allows potential employers to post jobs that freelancers can then bid to complete. Founded in 2009, its headquarters is located in Sydney, Australia, though it also has offices in Vancouver, London, Buenos Aires, Manila, and Jakarta.

Fiverr is an Israeli multinational online marketplace for freelance services. Fiverr's platform connects freelancers (sellers) to people or businesses looking to hire (buyers), encouraging a wide range of services in a free market. Fiverr takes its name from the $5 asking price attached to all tasks when the company was founded in 2010 in Tel Aviv, though many sellers now charge more.

Manoj Bhargava is an Indian American businessman and philanthropist. He is the founder and CEO of Innovations Ventures LLC, the company known for producing the 5-hour Energy drink. By 2012, the brand had grown to do an estimated $1 billion in sales. In 2015, Bhargava pledged 99% of his net worth to improve the well-being of the world's less fortunate. In 2023, Bhargava was named interim chief executive of Sports Illustrated magazine after the removal of Ross Levinsohn. He has been the subject of a United States Senate Committee on Finance investigation into undeclared Swiss bank accounts and is under a criminal tax evasion probe by the United States Department of Justice and the Internal Revenue Service as of 2024, according to The Wall Street Journal.

OnForce was a Freelancer Management System (FMS) for Field Services that enabled companies to search for, engage with, manage, and pay non-employee professionals. Based out of Lexington, Massachusetts, it was a former independent business unit of Adecco Group.

Shiftgig was a platform that connected gig workers with employers through a mobile application to claim one-time and recurring jobs in real time.

Fabio Rosati is an Italian-born American executive who served as CEO of online work marketplace platforms Elance and Upwork, as chair of the board at hourly work marketplace Snagajob, and currently serves as chair of the board at on-demand manufacturing marketplace Xometry. Rosati is a contributor to online work, the freelance economy, and real-time hiring.

Gabriel Shaoolian is a serial entrepreneur known for founding and growing digital agencies and online businesses. He is the founder and CEO of Digital Silk, a global digital agency growing brands online, OysterLink, a restaurant and hospitality job platform, and DesignRush, a B2B marketplace for brands to select agencies.

<span class="mw-page-title-main">Beeline (software company)</span>

Beeline is a software as a service company dealing with sourcing and managing the extended workforce. The company ranks among the largest vendor management system (VMS) providers in terms of total temp/contract spend and outsourced spend in Staffing Industry Analysts' 2017 VMS Markets Development Summary report. The company was sold in July 2018 to New Mountain Capital. As of March 2021, Beeline announced that it is now going to market as an extended workforce platform.

<span class="mw-page-title-main">Bullhorn, Inc.</span> American cloud computing company

Bullhorn, Inc. is an American cloud computing company headquartered in Boston. The company provides customer relationship management (CRM), applicant tracking system (ATS) and operations software for the staffing industry. As of 2019, the company reported more than 11,000 customers in more than 150 countries. Besides its Boston headquarters, the company has operations in St. Louis, London, Brighton, Sydney, and Rotterdam.

<span class="mw-page-title-main">Expert360</span>

Expert360 is an online marketplace co-founded by Bridget Loudon and Emily Yue and headquartered in Sydney, Australia. Expert360 acts as a digital network for matching independent business consultants with clients for short or long-term project work. The company is best known for its innovative approach to both the local and international freelance marketplace.

<span class="mw-page-title-main">JOOR</span> Data analytics company

JOOR is a SaaS company that built an online B2B Marketplace connecting brands and retailers to streamline their wholesale business. JOOR is also a data analytics company.

<span class="mw-page-title-main">Aquent</span>

Aquent is a staffing company specializing in placing temporary employees in marketing and creative industries. According to Staffing Industry Analysts, it is among the "largest marketing/creative staffing firms in the United States". Aquent also operates internationally with offices in Japan, Canada, Australia, France, UK, and the Netherlands.

Andela is a private marketplace for technical talent. Andela focuses on sustainable careers, connecting technologists with long-term engagements, access to international roles, and competitive compensation.

<span class="mw-page-title-main">Nomad Health</span>

Nomad Health is an online marketplace that directly connects physicians, nurses, and medical facilities for healthcare jobs, without the involvement of third party employment agencies. Nomad Health is based in New York City.

References

  1. 1 2 3 "Work Market". Forbes. Retrieved May 1, 2014.
  2. ↑ "New tech companies say freelancing is the future of work\publisher=The Washington Post" . Retrieved June 22, 2015.
  3. 1 2 3 4 5 6 7 "Work Market manages IT staffers the one-stop way". Crain's New York Business. Retrieved May 1, 2014.
  4. ↑ Deutscher, Maria (2018-01-22). "Payroll giant ADP acquires worker management startup WorkMarket". siliconANGLE. Retrieved 2018-01-23.
  5. ↑ "Your next job, next year, may be self-employment". Computerworld. Retrieved May 1, 2014.
  6. 1 2 3 4 "Work Market lands $10m to bring its service for managing freelance workforces out of stealth mode". The Next Web. Retrieved June 22, 2015.
  7. ↑ "Jeffrey Leventhal speaks about Work Market and work markets". Gigaom. Retrieved May 1, 2014.
  8. ↑ Group, The Devon (2015-01-13). "Work Market Appoints Stephen DeWitt as Chief Executive Officer". GlobeNewswire News Room. Retrieved 2020-07-10.{{cite web}}: |last= has generic name (help)
  9. ↑ "Union Square Ventures, Spark Capital invest in Work Market". VentureBeat. Retrieved May 1, 2014.
  10. ↑ "Twitter Investor Spark Promotes Mo Koyfman To General Partner". Wall Street Journal: Venture Capital Dispatch. Retrieved May 1, 2014.
  11. ↑ "People: Work Market, Staffing Consultants, Prestige Employee Administrators". Staffing Industry Analysis. Retrieved May 1, 2014.
  12. ↑ "Work Market Names Former Adecco Group NA CEO Tig Gilliam as Chairman of the Board". Marketwired. Retrieved June 22, 2015.
  13. ↑ "Cool Vendors in Procurement and Sourcing Technology, 2015". Gartner. Retrieved June 22, 2015.
  14. ↑ "Exploring Work Market: A Procurement Platform For a Post-VMS-Services World". Spend Matters. Retrieved June 22, 2015.
  15. ↑ "Crain's New York Business Fast 50". Crain's. Retrieved June 22, 2015.
  16. ↑ "America's Most Promising Companies 2014". Forbes. Retrieved May 1, 2014.
  17. ↑ "Work Market on Forbes' Most Promising Companies list". Newsday. Retrieved May 1, 2014.
  18. ↑ "Staffing Industry Analysts Top 100". Staffing Industry Analysts. Retrieved May 1, 2014.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.