W

Worksome

www.worksome.com link_icon

Company Research Report: Worksome



Company Overview



  • Name: Worksome

  • Mission: Worksome is dedicated to removing inefficiencies in HR, Legal, and Finance operations for companies engaging with independent contractors at scale. The company aims to streamline processes with built-in features allowing instant classification, contracting, and payment of independent contractors within a single system. This enables businesses to move faster, retain better talent, deliver projects swiftly, and gain a competitive edge.


  • Founded: 2017

  • Founders: The company was founded by Morten Petersen and others.

  • Key People:

  • Morten Petersen, Co-founder & CEO

  • Simon Søberg Jørgensen, CFO


  • Headquarters: New York, USA; London, UK; Copenhagen, Denmark.

  • Number of Employees: 51-200 employees

  • Revenue: No information is available.

  • Known For: Renowned for its Freelance Management System, Worksome provides enterprises with a comprehensive solution for managing independent contractors, focusing on efficiency, compliance, and talent acquisition.


Products



Worksome's Freelance Management System



  • High-level Description: Worksome offers a platform that simplifies freelance workforce management for businesses by integrating sourcing, onboarding, contract management, and payments within a single system.


  • Key Features:

  • Omni-Channel Sourcing: Efficiently manage talent sourcing across various channels, create private talent pools, and expand recruitment through external suppliers.

  • Compliance & Contracting: Provides risk-free worker classification and compliance tools, ensuring legal adherence across global jurisdictions.

  • Payments: Integrated solutions for payroll, billing, invoicing, and tax withholding, guaranteeing timely compensation for contractors.

  • Data & Reporting: Advanced tools for monitoring workforce activities, tracking performance, and accessing valuable business insights.


Recent Developments



  • New Partnerships: Worksome has recently formed strategic partnerships with Gigged.AI and G2i, enhancing talent engagement capabilities.

  • Product Enhancements: The company launched direct sourcing and compliance features to give enterprises quicker access to the global contractor workforce.

  • Funding: Completed a $18 million Series B funding round on January 12, 2023, led by investor Lind og Risør.


Additional Developments



  • Expansion:

  • US Market: Opened an office in NYC and launched operations in the US market in 2019.

  • UK Market: Addressed challenges posed by IR35 tax laws as part of its expansion strategy.


  • Freelancer Milestones: By March 2021, Worksome had attracted 30,000 freelancers to its platform.


Conclusion



Worksome positions itself as a pivotal technology in modern workforce management, offering robust capabilities in freelance talent management, compliance assurance, and efficient payment systems. With its continued expansion and strategic partnerships, Worksome stands at the forefront of fostering a flexible and interconnected future of work environment.

No additional information available.