Number of employees 104 Founded 2010 | Website workmarket.com | |
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Industry FMS: Freelance Management Systems Headquarters Huntington, New York, United States Founders Jeffrey Leventhal, Jeffrey Wald | ||
Work Market is a New York City-based company that provides an online platform and marketplace for businesses to manage freelancers, contractors, and consultants. The company was founded in May 2010 by Jeffrey Leventhal and Jeffrey Wald.
Contents
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. Ninety-five percent of Work Market assignments, sourced from its freelancer marketplace, are for on-site work. Many companies also use Work Market independently from the marketplace to manage their existing freelance talent communities.
Work Market allows "buyers" to find workers, verify credentials, engage and onboard talent, manage work assignments and projects, process payments, and rate workers. For workers, Work Market provides a marketplace to search and apply for assignments, share resumes, and build digital portfolios. Both companies and workers use Work Market's dashboard to manage current assignments. Workers leverage the mobile app to find and manage assignments.
History
Co-founder and CEO Jeffrey Leventhal conceived of the idea for Work Market after founding and departing from a previous business he started that helped manage IT talent. His industry experience led him to believe that there was an opportunity to provide a more efficient method for hiring and managing contractors. To form a founding team, Leventhal partnered with Jeffrey Wald, a Harvard Business School graduate who had served roles at J.P. Morgan Chase and VC fund GlenRock. In 2011, Leventhal and Wald launched a beta version of the Work Market platform to a group of 20 companies. Until 2013, Work Market operated as an invitation-only service while it worked to build a larger base of corporate clients.
In January 2015, Work Market welcomed Silicon Valley veteran Stephen DeWitt as its CEO."Work Market Appoints Stephen DeWitt as Chief Executive Officer". DeWitt has held leadership positions at some of the world’s largest tech companies, including Hewlett-Packard, Cisco and Symantec. Earlier in his career, he was president and CEO of Cobalt Networks, where he guided that company from its start-up roots to a high-profile IPO and ultimately, its acquisition by Sun Microsystems.
Work Market's board of directors and advisor team consists of, among others, Union Square Ventures' Fred Wilson, Spark Capital's Mo Koyfman, Jeffrey Leventhal, Tig Gilliam, and Jordan Levy. Tig Gilliam was named Chairman in February 2015.
Between 2011 and 2015, Work Market raised a total of $36 million in venture funding.
Recognition
Gartner recognized Work Market as a Cool Vendor in Procurement Sourcing in 2015. Work Market has also been featured in Spend Matters research.
Having experienced two-year growth of 581%, Work Market was named No. 20 on the 2014 list of Crain’s New York Business Fast 50. Work Market has also been recognized by Forbes as one of America's Most Promising Companies for 2014.
Jeffrey Leventhal has also been honored as Staffing Industry Analysts Top 100 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.