Nearly a year ago, online job marketplaces Elance and oDesk decided that they were better off working together rather than competing against one another. As a result, they mergedto create a company called Elance-oDesk to dominate the market for connecting users with short-term and freelance jobs online.
Today Elance-oDesk is announcing that it has brought on an additional $30 million in funding led by Benchmark Capital, which it will use to further investment in its products and expand into new markets. In addition to Benchmark, additional shareholders that include T. Rowe Price, FirstMark, Sigma West, NEA, and Stripes Group also participated in the round.
Elance-oDesk offers up a platform to connect businesses looking for short-term and freelance help with online workers who have time to do the jobs available. It offers both hourly and milestone-based gigs for workers, and handles all invoicing and payment processing, ensuring both quality of work and timeliness of pay.
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