Key Insights
- Fiverr has introduced Fiverr Enterprise (formerly Stoke Talent), its business solution to freelance talent management
- Fiverr acquired Stoke Talent in 2021, expanding its suite of services to accommodate more businesses
- Since 2010, Fiverr has pioneered an SaaS models to connect businesses with talents
Global online marketplace Fiverr is introducing Fiverr Enterprise: its solution to sourcing, onboarding, managing and paying freelance talents, all while making budget tracking, tax, and other processes easier for businesses.
Formerly known as Stoke Talent, Fiverr Enterprise aims to expand its parent company’s solutions upmarket, integrate bigger brands into its suite of products, and offer its current customers more managing capabilities.
The upgraded service lets businesses build their own freelance workforce, whether it be with online or offline talent, and whether or not they come from Fiverr. It also provides onboarding and management capabilities and complete visibility of the organization’s global freelance workforce.
CEO and Founder of Fiverr Micha Kaufman acknowledged that progressive companies have learned to integrate freelance talent into their own workforces' strategies for growth. “Fiverr Enterprise allows big businesses to quickly and simply engage with this integral part of their workforce, and to seamlessly incorporate freelance talent into their day-to-day workflows,” she explained in a press release.
“This is a natural extension for Fiverr to be able to provide a centralized, and simple-to-use platform for companies to engage with their entire contingent workforce.”
Despite the rebrand, Fiverr Enterprise will adopt Stoke Talent’s existing customers such as Amdocs, Similarweb, MinuteMedia and Waymo.
Fiverr’s Stoke Talent Acquisition
Fiverr acquired the management platform startup Stoke Talent last 2021 for $95 million, expanding its businesses and diversifying its offerings.
Two years later, the online marketplace has added a talent management component to it, rebranding the service to Fiverr Enterprise. According to Fiverr Enterprise general manager Shahar Erez, the move is a “step forward” as it can now accommodate larger businesses with existing groups of freelances and tap into the contractor workforce.
“Fiverr Enterprise is a Freelance Management System, an end-to-end software solution that gives businesses complete control over the hiring, management, payment and compliance processes of their freelance workforce,” the general manager explained in an interview.
To utilize Fiverr Enterprise, Fiverr customers will have to subscribe to a monthly subscription, where a percentage of their monthly payments will run through the platform. Customers will also get a monthly bill for all their freelancers.
Fiverr’s Success Over the Years
Fiverr started out as an online marketplace for freelancers in 2010, giving them a platform to offer their services and businesses.
Now, the company is sitting at a multi-million-dollar valuation, over four million customers, and professionals with services spread across 600 categories.
“Part of the success comes from the fact we pioneered the way of working that is now the norm; from the very first moment, we revolutionized the way we work together,” said Fiverr Chief Marketing Officer Gali Arnon.
“We created the basis for working remotely, where there are no geographical barriers, giving access to a global, inclusive talent pool that rewards diversity,” she added.
In an exclusive interview with Spotlight, Arnon said that over the years, the company has worked to improve the platform by adding new categories for companies to tap into, and new tools for talents to offer the best services.
“We were pioneering a Service-as-a-Product (SaaP) model to enable freelancers and businesses to connect, transact and collaborate through an on-demand, eCommerce-like experience,” she shared.
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