Fiverr bought Stoke Talent, an employer-focused freelance management firm, for $95 million in 2021. In addition, Fiverr moved into new and adjacent job markets, broadening its publicly traded products.
Fiverr Enterprise, built on Stoke Talent’s capabilities, was released roughly two years after the acquisition. The GM of Fiverr Enterprise, Shahar Erez, calls it a step toward accommodating larger enterprises that may already have a group of freelancers but want to tap into the contractor labor.
“Fiverr Enterprise is a Freelance Management System, an end-to-end software solution that gives businesses complete control over their freelance workforce’s hiring, management, payment, and compliance processes,” Erez stated via email. Businesses can now construct their own curated freelance workforce with online and offline talent using Fiverr Enterprise, even if they have offline freelancer ties.
Fiverr Enterprise streamlines legal and payment paperwork, onboarding, and compliance for big freelancing teams. Enterprise uses Stoke Talent’s legal, tax, and labor categorization expertise to improve freelancer visibility.
Fiverr Enterprise charges a monthly fee and a portion of monthly payments. Monthly bills cover all freelancers.
Erez noted that Fiverr Enterprise symbolizes the company’s growing premium focus, which coincided with its 2019 IPO. He also mentioned Fiverr Business in 2020 and Project Partner this year.
Project Partner helps teams manage Fiverr Business initiatives. Erez stated ambitious organizations need a workforce plan that includes freelance and contractor skills as the freelance workforce grows. By 2030, 50% of the U.S. workforce will be freelance. “Fiverr Enterprise offers a key solution for larger businesses who need a simple way to onboard freelance talent worldwide while having full visibility of that part of their total workforce.”
Fiverr says Stoke Talent clients Amdocs, Similarweb, MinuteMedia, and Waymo have launched Fiverr Enterprise, giving it a significant customer base. In gig worker management, startups compete.
Worksome, which got $13 million in May 2021 to develop its freelancing talent platform, and Wingspan, which raised $14 million in March for its contract payment platform, compete with Fiverr Enterprise. Supersite, backed by tens of millions in venture financing, connects and manages freelance creatives for in-house marketing and design teams. Erez seemed unconcerned.
He claimed Fiverr purchased Stoke Talent to address business organizations’ desire for a contingent worker management solution. Fiverr Enterprise is the only SaaS platform powered by the world’s largest marketplace.
