Total amount raised
$168.8 Million
Latest funding date
2017-01-01
Location
Upwork is a global work marketplace that connects businesses, agencies, and freelancers, offering a platform for clients to browse for freelancers, post projects, review proposals, and conduct interviews. The platform is used by companies of all sizes to access specialized expertise in various fields such as AI, Machine Learning, Design, Marketing, and Software Development.
Keep reading to explore the intricacies of Upwork's fundraising journey and the investors backing this innovative platform.
What Is Upwork?
Upwork, a prominent player in the freelancing and remote work marketplace, was founded in 2015. The platform connects businesses, agencies, and freelancers, offering a space for clients to find specialized expertise in fields such as AI, Machine Learning, Design, Marketing, and Software Development.
Headquartered in Santa Clara, California, Upwork was formed by the merger of Elance and oDesk, originally founded by Beerud Sheth, Srini Anumolu, and Odysseas Tsatalos. The platform provides tools for posting jobs, finding talent, managing projects, and making secure payments, helping businesses scale efficiently by accessing a global pool of freelance talent.
How Much Funding Has Upwork Raised?
- Series Unknown
- Amount Raised: USD 6,800,000
- Date: April 2003
- Series Unknown
- Amount Raised: USD 10,000,000
- Date: August 2004
- Series A
- Amount Raised: USD 6,000,000
- Date: April 2006
- Lead Investors: Sigma Partners
- Series B
- Amount Raised: USD 8,000,000
- Date: September 2006
- Lead Investors: Benchmark
- Series C
- Amount Raised: USD 15,000,000
- Date: June 2008
- Lead Investors: DAG Ventures
- Series Unknown
- Amount Raised: USD 16,000,000
- Date: January 2012
- Series D
- Amount Raised: USD 15,000,000
- Date: March 2012
- Series Unknown
- Amount Raised: USD 30,000,000
- Date: November 2014
- Lead Investors: Benchmark
- Secondary Market
- Date: October 2016
- Series Unknown
- Date: January 2017
Upwork has raised a total of USD 106,800,000 across its funding rounds.
Key Investors
- Benchmark
- Details: Benchmark is a venture capital firm based in Silicon Valley, known for its early-stage investments in technology companies. The firm has a reputation for backing successful startups that have gone on to become industry leaders.
- Investment Focus Areas: Technology, Software, Internet
- Notable Investments: Uber, Twitter, eBay
- Sigma Partners
- Details: Sigma Partners is a venture capital firm that invests in early-stage technology companies. The firm has a history of supporting innovative startups with strong growth potential.
- Investment Focus Areas: Technology, Software, IT Services
- Notable Investments: EqualLogic, Fortify Software, Responsys
- DAG Ventures
- Details: DAG Ventures is a venture capital firm that focuses on mid-to-late-stage investments. The firm is known for its strategic investments in high-growth technology companies.
- Investment Focus Areas: Technology, Healthcare, Consumer
- Notable Investments: Yelp, Glassdoor, Nextdoor
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