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The profile is currenly unclaimed by the seller. All information is provided by CB Insights.

upwork.com

Founded Year

2004

Stage

IPO | IPO

Total Raised

$75M

Date of IPO

10/3/2018

Market Cap

2.09B

Stock Price

15.36

About Upwork

Upwork is a freelance talent marketplace that enables businesses with more access to quality talent.

Upwork Headquarters Location

2625 Augustine Drive Suite #601

Santa Clara, California, 95054,

United States

866-262-4478

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Research containing Upwork

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CB Insights Intelligence Analysts have mentioned Upwork in 1 CB Insights research brief, most recently on Feb 3, 2021.

Expert Collections containing Upwork

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Upwork is included in 1 Expert Collection, including HR Tech.

H

HR Tech

4,016 items

HR tech startups are helping companies manage critical pain points in HR processes such as recruitment, automation, career development, compensation, and benefits management, through a mix of software and services.

Upwork Patents

Upwork has filed 4 patents.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

3/14/2014

11/30/2021

Job scheduling, Machine learning, Classification algorithms, ACP magazine titles, Planetary systems

Grant

Application Date

3/14/2014

Grant Date

11/30/2021

Title

Related Topics

Job scheduling, Machine learning, Classification algorithms, ACP magazine titles, Planetary systems

Status

Grant

Latest Upwork News

Don’t settle for SMBs with NRR below 100% (Updated) Sastra

Sep 19, 2022

- Advertisement - - Advertisement - — jason 2022 SaaStr Annual Sep 13-15 Lemkin (@jasonlk) April 20, 2021 - Advertisement - As part of our 5 interesting learning series we have had the opportunity to take a deep dive on the many leaders who are selling in whole or in part to SMBs, from Zendesk to Smartsheet, from Shopify to Zoom, from Asana to HubSpot, From Box to Dropbox. , and so much more. And there’s an important measure: You really should aim for >100% NRR, even from small businesses. Yes, small businesses run at a much higher rate than enterprises. And yes, most small businesses have very little for sale. Traditionally, this means that even 100% net revenue retention can be tough when 20%-30% of your customers may be out of business in a given year! Yet we have seen that SaaS can do it best. At least 100% NRR after $10 million ARR. Some quick examples: #1. Smartsheet: Overall 131%+ NRR in 2022. And I like this slightly older but more specific breakdown from 2021, when it had 123%+ NRR from all customers, so maybe ~110% from SMBs: #2. Zendesk: Overall NRR of 121%, with 35%-40% SMB. So probably again around 100% NRR from SMBs. #3. Bill.com: 131% NRR from small businesses (over 110 percent in IPOs). And it is, in many cases, from very small businesses. It’s also very helpful to see the logo retention break down in an IPO. #4. HubSpot has driven 100% NRR over time from earlier SMBs and now 110% from SMB+. It helps that they have moved to larger SMBs with higher ACVs (now closer to $20k), but it still shows that it can not only be done, but then made to go from 100% to 110%. Multi-product in large part. #5. Shop at 100%+ NRR. Shopify doesn’t always break out its NRR, but since its revenue grows by group, it’s north of 100%: #6. BigCommerce at 106% NRR. Shopify’s smaller rival. #7. Zoom in from SMBs to maybe 110% NRR – up to at least $4 billion in ARR. Zoom’s overall NRR was consistently 130% until recently, with SMBs accounting for more than half. Zoom didn’t break the gap but we can charge at least 110% NRR from SMBs. Note that half of Zoom’s customers pay monthly! Again, Zoom’s numbers have fallen of late with rocky post-Covid changes, but these were NRR trends for an astonishing $4 billion in ARR. #8. Upwork at 100% NRR. Even a marketplace like Upwork which may be relevant in use hits 100% NRR overall. #9. Xero has a monthly churn of 1.1%. So it doesn’t significantly affect 100% NRR. #10. Asana has an overall NRR of 120% (up from 115% just after IPO), 130% (up from 125%) for $5k subscribers and 145% (up from 145% in IPO) for $50k customers. So well in the answer of 100% for your SMB. We could go on and on. some ideas: Yes, SMBs churn at a higher rate than both gross and net enterprises. So plan on that. Yes, many SMBs go out of business. So plan on that too. And yes, many top SaaS SMB leaders did not have 100% NRR in the initial days. And the 82% logo retention that Bill.com has is probably as good as it can get with very small businesses. So you will need to find a way to sell them more seats, more usage, and something to get 100% NRR. but Almost all top SaaS leaders got 100%-110% NRR from SMBs. Although many if not most did not start there. You might not get there on $1m, $2m, even $10m ARR. But keep getting closer. And try to achieve that goal after at least $10m ARR. Having said that, it assumes that you have a sales team or other solution. Self-service single-seat products like Squarespace have an NRR of 85%. But if humans are involved in sales and success, don’t settle for less than 100% NRR. make it so!

Upwork Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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Upwork Rank

  • When was Upwork founded?

    Upwork was founded in 2004.

  • Where is Upwork's headquarters?

    Upwork's headquarters is located at 2625 Augustine Drive, Santa Clara.

  • What is Upwork's latest funding round?

    Upwork's latest funding round is IPO.

  • How much did Upwork raise?

    Upwork raised a total of $75M.

  • Who are the investors of Upwork?

    Investors of Upwork include Benchmark, Jackson Square Ventures, T. Rowe Price, Stripes Group, New Enterprise Associates and 7 more.

  • Who are Upwork's competitors?

    Competitors of Upwork include Bitskout, Workee, Turing, unremot, Sama, Cassidy Health, OneSpace, TAIKAI, Valid8 Financial, Malt and 19 more.

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