Consulting-on-demand provider Expert360 has secured $13 million in series B capital raising round from Australia’s largest venture capital fund, Airtree Ventures. Bringing the total investments in Expert360 to $21 million and demonstrating the increasing demand for freelance workers in the economy.
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What Services do Expert360 Provide?
Expert360,founded in 2013 provides a marketplace for professionals by matching employers requiring short-term professional help with registered workers looking for one-off consulting projects.
Expert360 has over 15,000 professionals operating on its platform, covering a range of areas from customer service and support through to data science and analysis. Expert360 aims to bring people together seamlessly by providing an intuitive and user-friendly platform.
The Capital Raised
The $13 million capital for Expert360 has been provided by Australia’s largest Venture Capital fund, Airtree Ventures.
This fund has invested in 35 Australian companies including Canva, Prospa and 90Seconds using a $250 million investment fund since September 2016.
The $13 million, as part of the larger $21 million raised in the series B round will be used by Expert360 to support the start-up’s international expansion plans, the development of new features and functionality for the platform and the ability to recommend or refer consultants for a job on the Expert360 platform. Part of the deal includes AirTree Ventures co-founder, Daniel Petre, becoming a member of the board.
Trend in Freelance Work?
This investment by Australia’s largest Venture Capital signals a recognition of the growing trend in utilising freelance workers. The average size of a project posted on Expert360 is $85,000, highlighting the premium nature of this start-up.
The services and popularity of Expert360 reflect the growing trend of individuals working for themselves. Research by Expert360 predicts that 40% of the professional workforce will become on-demand and freelance by 2025.
This presents a growing opportunity for both individuals interesting in becoming a freelancer and companies such as Expert360 which provides a marketplace to facilitate this growing trend.
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Final Thoughts
The growing trend in freelance work will continue to present opportunities to companies who embrace and apply this new model of consultation. For individuals, this provides the chance to adopt a dynamic way of approaching employment. LawPath provides access to all the essential legal documents sign up to LawPath today.
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