Fiverr introduced Fiverr Enterprise, formerly Stoke Talent, which the company acquired in 2021.
The move comes as Stoke Talent is being integrated into Fiverr, and as the company continues to expand its solutions upmarket in a drive to bring larger brands into Fiverr’s suite of products.
Fiverr said the Enterprise product gives businesses greater control and offers a frictionless solution to sourcing, onboarding, managing and paying freelance talent. At the same time, it simplifies a number of back-office functions, including budget tracking, tax, legal and workforce classification and compliance.
Micha Kaufman, Fiverr’s founder and CEO, called the move “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.”
More Value for Large Customers
Fiverr acquired Stoke Talent in 2021 for $95 million. At the time, the companies said the acquisition was intended to offer more value to larger customers and integrate with existing corporate workflows.
Kaufman said the acquisition made sense because it would support the company’s plans to move upmarket as well as its efforts to engage with “much larger” customers. In addition, he said, Fiverr would be able to offer solutions to businesses that already had a stable of freelancers, and would pair talent with large companies that wanted to use freelancers but didn’t have any relationships in place. It also gave Fiverr access to the offline freelancing market, which he described as being “still orders of magnitude larger than online freelancing.”
Stoke Talent portrayed its mission as simplifying the use of freelance talent. The platform allows customers to build a custom directory for both online and offline contractors, and track budgets and milestones. At the time of the acquisition, Stoke said joining Fiverr would significantly expand its capabilities while accelerating, expanding and quickening its go-to-market strategy.