June 09, 2021
Freelancer management system Stoke announced a $15.5 million funding round. Separately, other firms announcing funding rounds were Loophire, a candidate-matching platform, and Commit, a platform that brings together senior engineers with startups.
Stoke’s $15.5 million series A funding round will go toward expansion and meeting growing demand from US companies.
“These funds will follow us as we build out our own category and cement a single source of truth for business leaders to manage any and every aspect of freelance talent overhead, and to help them securely leverage the most dynamic kind of workforce,” co-founder and CEO of Stoke Shahar Erez said.
Stoke enables companies to hire talent, set up automated onboarding workflows and pay invoices across 190 countries. It has offices in Palo Alto, California, and Tel Aviv, Israel.
Leading the funding round was Battery Ventures with participation from all previous investors, including TLV Partners, Dynamic and Loop as well as some customers. This round brings total funding raised to $20 million.
“At Battery we’ve made many investments around the future of work. But we believe the comprehensive solution Stoke is building to help companies manage their growing networks of freelancers and independent contractors is really unique — and is obviously very relevant today,” said Itzik Parnafes, a Battery general partner who is joining Stoke’s board.
Loophire, a provider of candidate matching, assessments and screening, announced a $300,000 seed funding round.
The Omaha, Nebraska-based firm was founded in 2019 by Chris Jones, a former recruiter and staffing agency owner.
The first investor in this seed funding round is U.S. Property led by Monte Froehlich.
Commit, a Vancouver, Canada-based firm that aims to match senior engineers with startups, announced a $6 million seed funding round, TechCrunch reported. Commit vets both startups and engineers, aiming to making moving to a smaller startup easier for senior engineers accustomed to working at larger, more established companies. It also offers a community of remotely working engineers to provide peer support and career advice as well as coaching and other services. Commit told TechCrunch it will pay workers a salary if they leave a large tech company until they land a job at a new firm.