Fiverr International Ltd. has acquired Stoke Talent, an all-in-one solution to help companies manage their work with freelance talent, for $95 million, the company announced Tuesday. This includes tools to onboard, pay, track budgets and more. With Stoke's product suite, Fiverr is looking to add more value to larger businesses and integrate with existing corporate workflows.
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Stoke Talent was founded by Shahar Erez and Hilik Paz with the goal of making it easier for businesses to leverage freelance talent. Stoke allows companies build their own talent directory, track budget and milestone completions, and provides solutions for tax, legal and workforce classification compliance. The company has almost 30 full-time employees and is headquartered in Tel Aviv.
"The Stoke acquisition made complete sense on multiple levels," said Fiverr founder and CEO Micha Kaufman. "It supports Fiverr's move upmarket and allows us to engage with much larger customers; It allows Fiverr to offer software solutions to businesses that already have freelancers that they work with and now can manage them easily; It allows Fiverr to pair its marketplace talent with large customers that need access to freelancers they still do not yet have a relationship with; It gives Fiverr access to the offline freelancing market that is still orders of magnitude larger than online freelancing; and finally, Stoke is a fast-growing best-in-class product with an incredible team behind it that we are delighted to add to our family."
"We share Fiverr's vision that freelance talent can help propel companies to new heights, both from a productivity and agility standpoint," said Erez. "This is an amazing opportunity to continue doing what we love to do, but on a much larger and broader scale."
