The Hague-based Bubty, a white-label external workforce technology, that consolidates a company’s resources into a custom-built talent pool platform built for global contractor and freelancer management, announced the raise of €1.75 million seed funding.
The investment has been provided by existing shareholders and an established American industry player, highlighting their shared vision of the future labor market. Backed by the funding, Bubty aims to expand its activities in the US by recruiting senior sales and marketing professionals and developing its technology. In the short term, Bubty will follow-up with a Series A financing round to further scale up its international operations.
In an age where the reliance on freelancers is growing, Bubty’s innovative platform is designed to revolutionize how companies and agencies recruit and manage freelancers by building their own pre-vetted talent pools. The raised funding puts Bubty on the map as a serious player to transform the freelance labor market.
Bubty developed AI-driven technology that lets companies move away from traditional third-party marketplaces and build their own internal, private talent pools. Therefore, allowing them to take charge of the entire process of managing freelancers, from contracting to payment. This leads to strengthened brand and employer branding and ensures the quality of work, while saving time and costs in the recruiting and management of freelancers. Payments via Bubty’s technology are fully compliant with international regulations, enabling companies in over 190 countries to hire, contract and pay freelancers.
“Our AI-driven matching ensures that the right freelancer can quickly be found, which is essential in a market that increasingly requires flexibility,” said co-founder Benjamin Schriel.
“There’s an ongoing trend towards decentralization in the labor market,” added co-founder Lee Willoughby. “Almost half of the global workforce consists of freelancers (47%), leading to a growing demand for efficient freelance management. Our technology to create private freelancer talent pools offers a fitting solution.”
Founded in 2019, Bubty’s fundamental concept remains strong. The platform achieved significant success in both the United States and the UK, where the use of freelancers is already much more common than other countries, and there is a strong emphasis on legal accuracy. The 240% growth in recurring revenue proves the product’s effectiveness.
Read the orginal article: https://www.eu-startups.com/2023/12/dutch-startup-bubty-secures-e1-75-million-seed-to-lead-the-evolution-of-the-freelance-workforce-industry/
