Freelance online platform Elance gets $16m investment
23 October 2012
Elance, the global online work platform, has secured $16m (£10.3m) in funding to fuel its growth plans.
Wed, 25 Jan 2012Elance, the global online work platform, has secured $16m (£10.3m) in funding to fuel its growth plans.
The investment will fund Elance’s growth, as the company predicts more businesses build contingent workforces in the cloud.
The expansion capital is led by the Stripes Group with existing investors, New Enterprise Associates (NEA) and Kleiner Perkins Caufield & Byers, also participating.
Fabio Rosati, chief executive of Elance, says: “It is clear that a structural change in traditional employment is underway. Work is no longer confined to the 9-5 and the office: people are working online with multiple clients as a career choice and companies are hiring online teams as a core business strategy.
“This investment will help Elance keep up with demand and continue to innovate work.”
In addition, Dan Marriott, managing partner at Stripes Group, and Paul Hsiao, partner at NEA, were appointed to Elance’s board of directors.
Marriott, whose firm led the investment, brings extensive experience building market-leading internet businesses such as Ticketmaster, Citysearch and Match.com
The investment will fund Elance’s growth, as the company predicts more businesses build contingent workforces in the cloud.
The expansion capital is led by the Stripes Group with existing investors, New Enterprise Associates (NEA) and Kleiner Perkins Caufield & Byers, also participating.
Fabio Rosati, chief executive of Elance, says: “It is clear that a structural change in traditional employment is underway. Work is no longer confined to the 9-5 and the office: people are working online with multiple clients as a career choice and companies are hiring online teams as a core business strategy.
“This investment will help Elance keep up with demand and continue to innovate work.”
In addition, Dan Marriott, managing partner at Stripes Group, and Paul Hsiao, partner at NEA, were appointed to Elance’s board of directors.
Marriott, whose firm led the investment, brings extensive experience building market-leading internet businesses such as Ticketmaster, Citysearch and Match.com
