Stoke Talent rebrands to Fiverr Enterprise
TEL AVIV, ISRAEL — Freelance management platform Stoke Talent, a subsidiary of gig marketplace Fiverr, has rebranded to Fiverr Enterprise.
This strategic move aims to expand Fiverr’s suite of products and attract larger brands to the platform while also providing its existing customers with more capabilities.
The new branding is built on top of Stoke Talent’s offerings. It provides businesses with complete control and a frictionless all-in-one solution to source, onboard, manage, and pay their own freelance talent, while simplifying budget tracking, tax, legal and workforce classification, and compliance processes.
“Through Fiverr Enterprise, our customers will continue to enjoy professional and efficient sourcing capabilities through the platform, and will now also be provided with even better sourcing abilities via Fiverr Business’ top, vetted talent. Via this merger, we provide our customers with the ability to work with Fiverr, a global, well-respected, and trusted company,” said Shahar Erez, Co-Founder & Chief Executive Officer of Fiverr Enterprise.
Although there is competition from startups in the gig worker management space, Fiverr Enterprise is the only software-as-a-service platform powered by one of the world’s leading marketplaces, Fiverr. Some of Stoke Talent’s customers, including Amdocs, Similarweb, MinuteMedia, and Waymo, have already piloted Fiverr Enterprise.
Stoke Talent was acquired by Fiverr for US$95 million in 2021. Before the acquisition, the startup raised US$20 million over 2 rounds.
Fiverr had over 4 million global customers who used their platform to work with freelance talent in the past year. This includes small businesses and Fortune 500 companies. The company recently reported that its revenue for the year 2022 was US$337.4 million, representing a year-over-year increase of 13.3%.
“Across the world, we are already seeing progressive companies integrate freelance talent into their workforces strategy to propel their growth,” said Fiverr Founder and CEO Micha Kaufman.
An increasing number of full-time employees are opting for freelance work due to various reasons, such as improved work-life balance or higher earnings. According to recent projections, the global freelancing market is estimated to be worth more than US$1 trillion, with a comprehensive annual growth rate (CAGR) of 15%.
