About Upwork
Upwork is a company based in San Francisco (United States) founded in 1999.. Upwork has raised $140 million across 8 funding rounds from investors including T. Rowe Price, FirstMark and Benchmark. The company has 600 employees as of December 31, 2024. Upwork has completed 2 acquisitions, including Ascen and Bubty. Upwork operates in a competitive market with competitors including Fiverr, Iziwork, Freelancer, Malt and ZBJ, among others.
- Headquarter San Francisco, United States
- Employees 600 as on 31 Dec, 2024
- Stage Public
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Sectors
Technology
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Upwork Inc.
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Annual Revenue
$769.33 M11.64as on Dec 31, 2024
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Net Profit
$215.59 M359.8as on Dec 31, 2024
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EBITDA
$83.66 M3604.87as on Dec 31, 2024
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Total Equity Funding
$140 M (USD)
in 8 rounds
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Latest Funding Round
$575 M (USD), Post-IPO
Aug 10, 2021
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Investors
T. Rowe Price
& 10 more
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Employee Count
600
as on Dec 31, 2024
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Investments & Acquisitions
Ascen
& 1 more
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IPO & Listings of Upwork
Upwork is a publicly listed company on the NASDAQ with ticker symbol UPWK in USA, operating in the Commercial services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
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Software Development Team
97 people
Creative and Marketing Team
55 people
Sales and Marketing
26 people
Leadership Team
21 people
Senior Team
16 people
Data Analysis and Operations Team
12 people
Web Team
12 people
Finance and Accounting
11 people
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Funding Insights of Upwork
Upwork has successfully raised a total of $140M across 8 strategic funding rounds. The most recent funding activity was a Post-IPO round of $575 million completed in August 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 8
- Last Round Post-IPO — $575.0M
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First Round
First Round
(26 Sep 2000)
- Investors Count 11
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2021 | Amount | Post-IPO - Upwork | Valuation |
investors |
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| Nov, 2014 | Amount | Series E - Upwork | Valuation | Benchmark | |
| Apr, 2012 | Amount | Series D - Upwork | Valuation | T. Rowe Price |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Upwork
Upwork has secured backing from 11 investors, including venture fund and institutional investors. Prominent investors backing the company include T. Rowe Price, FirstMark and Benchmark. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital investments are offered to promising startups.
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Founded Year | Domain | Location | |
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Early-stage VC investments are made in US, Canada, and Asia.
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Founded Year | Domain | Location | |
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Venture capital investments are offered to startups by NEA.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Upwork
Upwork has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Ascen and Bubty. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Provider of contingent workforce management platform
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2019 | ||||
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Online HRMS portal for temporary workforce
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2018 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 |
Financial Statements - Upwork
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Upwork Comparisons
Competitors of Upwork
Upwork operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Fiverr, Iziwork, Freelancer, Malt and ZBJ, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Freelance services are facilitated via an online multi-industry marketplace.
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| domain | founded_year | HQ Location |
Freelancers are matched with employers via an online job platform.
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| domain | founded_year | HQ Location |
An online marketplace is operated for freelancers in various industries.
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| domain | founded_year | HQ Location |
Freelance marketplace operated to connect experts with company projects.
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| domain | founded_year | HQ Location |
Freelancers are matched with clients via an online services platform.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Upwork
Frequently Asked Questions about Upwork
When was Upwork founded?
Upwork was founded in 1999 and raised its 1st funding round 1 year after it was founded.
Where is Upwork located?
Upwork is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Who is the current CEO of Upwork?
Hayden Brown is the current CEO of Upwork.
Is Upwork a funded company?
Upwork is a funded company, having raised a total of $140M across 8 funding rounds to date. The company's 1st funding round was a Series D of $15M, raised on Sep 26, 2000.
How many employees does Upwork have?
As of Dec 31, 2024, the latest employee count at Upwork is 600.
What is the annual revenue of Upwork?
Annual revenue of Upwork is $769.33M as on Dec 31, 2024.
What does Upwork do?
Provider of marketplace connecting businesses with professionals and agencies. The platform allows users to post job requests by mentioning job specifications and requirements and allows freelancers to send bids. It allows recruiters to review the bids, chat, video call, compare bids, track and buy projects, and hire and pay for work done. It enables collaboration between network of independent professionals, including accountants, CAD designers, fashion designers, ghostwriters, graphic designers, product developers, square space developers, tax preparers, virtual assistants, and more. The offering sectors include sales, marketing, writing, information technology, consumer service, and more.
Who are the top competitors of Upwork?
Upwork's top competitors include Fiverr, Freelancer and Iziwork.
Is Upwork publicly traded?
Yes, Upwork is publicly traded on NASDAQ under the ticker symbol UPWK.
Who are Upwork's investors?
Upwork has 11 investors. Key investors include T. Rowe Price, FirstMark, Benchmark, Sigma Partners, and NEA.
What is Upwork's ticker symbol?
The ticker symbol of Upwork is UPWK on NASDAQ.
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