Freelance marketplace Fiverr has debuted a platform that lets companies manage gig workers.
Fiverr Enterprise, announced Wednesday (May 3), gives businesses an all-in-one tool to source, onboard, manage and pay freelance workers, while also simplifying budget tracking, tax, legal and workforce classification and compliance.
The new platform is a function of the company’s integration of Stoke Talent, which Fiverr acquired in 2021 for $95 million, into its business.
“Across the world, we are already seeing progressive companies integrate freelance talent into their workforces strategy to propel their growth,” Micha Kaufman, founder and CEO of Fiverr, said in a news release.
“Fiverr Enterprise allows big businesses to quickly and simply engage with this integral part of their workforce, and to seamlessly incorporate freelance talent into their day-to-day workflows.”
The launch comes as Americans are increasingly taking side gigs to generate extra income at a rate that suggests a new normal is emerging, LendingClub Financial Health Officer Anuj Nayar told PYMNTS recently.
“The thing that jumped out to me is they’re generating over $50 billion a month from these cash-based side gigs, which is a huge amount,” he said of his review of recent research.
Looking just at those with full-time jobs, the findings showed that 29% had begun picking up extra income in a variety of ways, a trend that kicked in strongly in early 2022 as COVID malingered and inflation began its steep climb.
This intersected with another COVID-related trend — remote work — which pulled people away from their offices and into home-based settings where many felt comfortable working “after work.”
“The data shows that this is going to continue,” Nayar said. “Even those who are not currently deriving an additional income, when asked if they plan to in the next three months, 51% said they did. You can see that some of those people are starting to shift, and it makes sense.”
That’s in keeping with what Kaufman said during Fiverr’s February earnings call after the company reported a somewhat muted attitude toward spending among businesses.
“The long-term secular trend towards remote work and flexible workforce remains intact, so we believe it’s just a matter of time for overall freelance demand to rebound,” the CEO said, adding that “engaging a dynamic workforce that combines full-time vs. independent workers, and on-site vs. remote is increasingly becoming a top-of-mind question for businesses of all sizes.”
Fiverr is scheduled to report its quarterly results next week.
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