Upwork Acquires Two Companies to Expand Corporate Market Presence with New Enterprise Business

San Francisco-based freelancer and corporate connection platform Upwork has announced the acquisition of two companies as part of its strategy to build a new standalone enterprise-focused business, aiming to significantly expand its footprint in the corporate staffing market.

On August 6, ahead of its Q2 earnings release, Upwork revealed that it has signed definitive agreements to acquire “Babbti”, a workforce management platform, and “Asen,” a global compliance and Employer of Record (EOR) company. These acquisitions will be integrated with Upwork’s existing enterprise services to form a new, independent enterprise offering.

With this move, Upwork plans to broaden its talent solutions beyond independent contractors, enabling companies to hire a wider range of workforce types. The new entity will support various contract models such as Agent of Record (AOR), Employer of Record (EOR), and staff augmentation.

Upwork President and CEO Hayden Brown said,

“Our enterprise clients have long been asking for access to this kind of talent pool. In today’s market, many companies are forced to compromise between flexibility and compliance, speed and scale, or digital tools and robust solutions—but we’re not compromising.”

She also noted that enterprise operations currently contribute around $100 million to Upwork’s annual revenue.

Brown further stated that Upwork evaluated over 100 companies before selecting Babbti and Asen for their technical capabilities and ease of integration.

The full branding and service details of the new standalone enterprise business are expected to be announced by the end of the year.

Source: TechCrunch