Dutch Startup Bubty raises €1.75 million in seed funding. Existing shareholders and a well-known American industry participant have contributed the investment, underscoring their same outlooks for the labour market in the future.
With the funds, Bubty hopes to expand its operations in the US by hiring seasoned marketers and sales representatives and strengthening its technological capabilities. To grow its global operations, Bubty plans to conduct a Series A financing round in the near future.
Bubty’s cutting-edge platform, that generates its own pre-vetted talent pools, is intended to transform how businesses and agencies hire and manage freelancers in a time when the need for independent contractors is increasing. With the funds raised, Bubty is now recognised as a significant force in the effort to change the freelance labour market.
With the help of AI-driven technology, businesses are able to develop their own internal, private talent pools instead of relying on conventional third-party marketplaces thanks to Bubty’s technology. Consequently, allowing them to handle every aspect of managing independent contractors, from hiring to payment.
Co-founder Benjamin Schriel said, “Our AI-driven matching ensures that the right freelancer can quickly be found, which is essential in a market that increasingly requires flexibility,”.
Co-founder Lee Willoughby said, “There’s an ongoing trend towards decentralization in the labor market, Almost half of the global workforce consists of freelancers (47%), leading to a growing demand for efficient freelance management. Our technology to create private freelancer talent pools offers a fitting solution.”
Bubty was established in 2019, yet its core idea is still relevant. The platform has had tremendous success in the US and the UK, where hiring freelancers is already far more popular than in other nations where legal precision is highly valued. The effectiveness of the solution can be seen by the 240% increase in recurring income.