Fiverr Receives Additional Funding

Fiverr Receives Additional Funding

Fiverr recently received new funding as its website was redesigned to facilitate the delivery of services to clients. The company confirmed that it received an additional $30 million in funding recently.

The online marketplace allows individuals to sell and purchase services at $5 per service. Micha Kaufman, CEO of the company, revealed that the company was able to raise $30 million in a recent Series C round of financing. The additional funding increases the total funding it received since it was established around five years ago to $50 million.

Bessemer Venture Partners increased its investment in the company. Accell Partners and Qumra Capital also invested in the firm. Bessemer was a previous investor of the company.

The company announced the additional funding together with the redesign of the website. The new design of the company website makes it easier for individual to find and purchase services from freelancers.

The company basically has a number of freelancers offering services whose prices start at $5. The complexity, type of work and seller rating determines the price of the service, which can become higher than $5. The company generates revenue through a fee of 20 percent it places on each service.

The services offered on the online marketplace are divided into different categories, including writing, voiceovers, graphic design, illustration and photography. The company has a number of competitors including Gigwalk and TaskRabbit. These companies also offer a number of categories not available on Fiverr.

The additional funding received by the company will be used in promoting its service while continuing to work on it mobile application. The company aims to increase its coverage beyond the 196 countries where it is currently being used.

Fiverr did not reveal the specific amounts it will use for its upcoming activities using the additional funding it received.

Posted by James Fried on Tuesday August 12 2014, 4:39 AM EDT. Ref: CNET. Link. All trademarks acknowledged. Filed under Featured News, Finance. Comments and Trackbacks closed. Follow responses: RSS 2.0