Upwork is breaking out of its traditional freelancer marketplace model by acquiring workforce management specialist Bubty and global compliance provider Ascen. These strategic purchases will be combined with Upwork’s existing enterprise segment to create a separate business unit geared specifically towards large companies in need of more complex, regulated staffing solutions. The new entity will offer a range of employment types—such as agent of record, employer of record, and staff augmentation—settings historically dominated by large global staffing agencies. This move enables Upwork to serve bigger corporate clients who require sophisticated compliance and software integration, going beyond the platform’s core audience of small and mid-sized business customers. According to Upwork’s president and CEO, the expansion responds to strong demand from enterprise clients who want all workforce solutions under a single umbrella, without sacrificing flexibility, compliance, or scale. Upwork assessed more than 100 companies for potential acquisition before choosing Bubty and Ascen, after successful pilot programs demonstrated that their technology could be smoothly integrated into Upwork’s framework. Currently, Upwork’s enterprise business contributes about $100 million of its total $750 million annual revenue, but the company aims to capture a larger share of the $650 billion global contingent workforce market. Details about branding and full service offerings for this new corporate staffing division will be revealed later in 2025.
Source: TechCrunch reports that Upwork is acquiring Bubty and Ascen to launch a standalone enterprise business, aiming to deliver compliance-ready talent solutions for large organizations.
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