WorkMarket is a technology company.
WorkMarket has raised $41.0M across 4 funding rounds.
WorkMarket has raised $41.0M in total across 4 funding rounds.
WorkMarket, an ADP company, builds a cloud-based independent contractor management platform that automates workflows for onboarding, verifying, assigning, tracking, and paying 1099 workers and freelancers. It serves enterprises across industries like IT services, helping them scale flexible workforces by organizing talent into "Labor Clouds" based on skills, location, certifications, and compliance needs, while solving problems of manual processes, compliance risks, and inefficient talent deployment.[1][2][3] The platform drives growth by enabling quick scaling—such as reducing dispatch times by 25% for clients—and provides real-time visibility into spend, performance, and operations, with modular features for payments via ACH, PayPal, or cards, and integrations for broader HR ecosystems.[4][5]
WorkMarket emerged as a pioneer in freelance and contractor marketplaces, evolving into a comprehensive labor automation platform now integrated under ADP, a major HR and payroll giant. While exact founding details are not specified in available sources, it gained traction by addressing the rise of the gig economy, partnering with innovators like Accenture and ServiceNow to help enterprises fuse flexible workforces with automation.[1][3] Pivotal moments include its acquisition by ADP, rebranding as WorkMarket by ADP, and proven early wins like enabling an IT services firm to optimize onboarding and deployment nationwide, fueling 25% dispatch time reductions and supporting high-growth scaling for clients like Automated Systems Design.[4][6]
WorkMarket rides the gig economy and flexible workforce trend, amplified by post-pandemic shifts toward remote/hybrid work, AI-driven automation, and cost pressures on enterprises to "do more with less." Timing is ideal amid 2025 hiring trends emphasizing contractor scaling over full-time hires, with market forces like regulatory scrutiny on 1099 compliance (e.g., IRS Form 1099-NEC) and talent shortages in IT/services favoring platforms that automate verification and deployment.[3][5][8] It influences the ecosystem by powering ADP's HR suite, enabling partners like ServiceNow to transform operations, and helping firms like IT services providers expand nationwide—reducing admin burdens while boosting profitability and competitiveness in labor-intensive sectors.[1][4][6]
WorkMarket is poised to expand as AI integrates deeper into hiring (e.g., smarter matching, predictive analytics), with trends like global payments, enhanced compliance amid evolving gig worker laws, and hybrid workforce models shaping its path. Expect growth through ADP synergies, targeting more verticals like retail construction and security services, potentially evolving into a full-spectrum contingent workforce hub. As enterprises prioritize agility, WorkMarket's automation edge will solidify its role in unlocking productivity from flexible talent pools.[3][6][8]
WorkMarket has raised $41.0M in total across 4 funding rounds.
WorkMarket's investors include Andreessen Horowitz, Atomic, Avalon Ventures, Binary Capital, Boost VC, Coatue, Cota Capital, Draper Associates, High Alpha, Pear VC, Plug & Play Ventures, Shine Capital.
WorkMarket has raised $41.0M across 4 funding rounds. Most recently, it raised $20.0M Series C in January 2015.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jan 1, 2015 | $20.0M Series C | Andreessen Horowitz, Atomic, Avalon Ventures, Binary Capital, Boost VC, Coatue, Cota Capital, Draper Associates, High Alpha, Pear VC, Plug & Play Ventures, Shine Capital, SRI Capital, Tekton Ventures, Union Square Ventures, Aaron Levie, Farzad Nazem, Flavio Nicolay Guimaraes, Jared Kopf, Jeff Clarke, Josh Silverman, Konstantin Othmer, Lisa Gansky, Mark Pincus, Michael G. Rubin, Richard Branson, Robert Goldberg | |
| May 1, 2013 | $10.0M Series B | Andreessen Horowitz, Atomic, Avalon Ventures, Binary Capital, Boost VC, Coatue, Cota Capital, Draper Associates, High Alpha, Pear VC, Plug & Play Ventures, Shine Capital, SRI Capital, Tekton Ventures, Union Square Ventures, Aaron Levie, Farzad Nazem, Flavio Nicolay Guimaraes, Jared Kopf, Jeff Clarke, Josh Silverman, Konstantin Othmer, Lisa Gansky, Mark Pincus, Michael G. Rubin, Richard Branson, Robert Goldberg | |
| Aug 1, 2011 | $5.0M Series B | Andreessen Horowitz, Atomic, Avalon Ventures, Binary Capital, Boost VC, Coatue, Cota Capital, Draper Associates, High Alpha, Pear VC, Plug & Play Ventures, Shine Capital, SRI Capital, Tekton Ventures, Union Square Ventures, Aaron Levie, Farzad Nazem, Flavio Nicolay Guimaraes, Jared Kopf, Jeff Clarke, Josh Silverman, Konstantin Othmer, Lisa Gansky, Mark Pincus, Michael G. Rubin, Richard Branson, Robert Goldberg | |
| Jun 1, 2010 | $6.0M Series A | Andreessen Horowitz, Atomic, Avalon Ventures, Binary Capital, Boost VC, Coatue, Cota Capital, Draper Associates, High Alpha, Pear VC, Plug & Play Ventures, Shine Capital, SRI Capital, Tekton Ventures, Union Square Ventures, Aaron Levie, Farzad Nazem, Flavio Nicolay Guimaraes, Jared Kopf, Jeff Clarke, Josh Silverman, Konstantin Othmer, Lisa Gansky, Mark Pincus, Michael G. Rubin, Richard Branson, Robert Goldberg |