Bubty announces a significant milestone with the closing of their $1.9 million seed funding round, marking a significant move to transform the labor market. In an age where reliance on freelancers is escalating, Bubty's platform is innovatively designed to redefine how businesses and agencies build and manage their own pre-vetted freelance talent pools, streamlining the process of finding the right fit for projects while ensuring compliance with industry standards.
Bubty empowers companies to develop their own internal, private talent pools, leveraging their brand and reducing time & costs associated with hiring. Guided by the vision that "every company in the world needs its own freelance talent pool," young founders Benjamin Schriel (26) and Lee Willoughby (26) are driven to fundamentally alter the freelance landscape.
Funding and Strategic Partnerships:
The recent seed funding round, primarily supported by existing shareholders, also saw the involvement of an American entity from the same industry. While the names of the investors remain undisclosed, their alliance with Bubty underscores a shared vision for the future of freelance management.
Decentralizing the Freelance Workforce
"The decentralization of the hiring and labor market is a key trend we're observing," explains Lee Willoughby, Bubty's co-founder. "Companies are increasingly depending on freelancers, who now make up nearly half of the global workforce(47%). This shift necessitates a new approach to managing freelance talent."
Bubty's platform addresses this need by enabling companies to build and manage their own pools of freelance talent, streamlining processes from recruitment to payment. "Our technology empowers businesses to create their customized white-label talent platforms, changing the way companies think about hiring," adds Benjamin Schriel.
Bubty's Unique Approach in the Market
Differentiating itself from traditional marketplaces, Bubty is a technology that companies license and use as a closed, white-label branded platform that integrates into their existing systems, launching an internal talent platform without the hassle of building it. This approach has been particularly successful in the U.S. and UK, where legal compliance and efficient management of freelance resources are high priorities.
Expansion and Growth Prospects
With a foothold in New York, Bubty plans to expand its presence in the U.S. by recruiting senior sales and marketing professionals. The company's growth trajectory demonstrates its robust go-to-market strategy, underlined by a 240% increase in business and a burgeoning clientele.
As Bubty prepares for its next phase of growth, the focus is on scaling its operations and exploring new opportunities in the Series A funding round. "Our goal is to leverage our current momentum and take Bubty to new heights, further solidifying our position in the market," says Schriel.
The Future of Work and Bubty's Role
As the freelance industry continues to evolve, Bubty's role in facilitating the shift towards decentralized workforces becomes increasingly vital. With its innovative technology and strategic vision, Bubty’s young & hungry founders Benjamin and Lee are not here to just keep pace with this evolution – they're ready to take over.