Randstad Innovation Fund invests in freelance online marketplace
RIF is Randstad’s strategic corporate venture fund to invest in HR technologies, which ensure future, innovative solutions to make HR processes more efficient and bring fresh answers to HR challenges. RIF’s first investment was in Gigwalk as communicated on March 20, 2014.
twago stands at the forefront of the modern workplace, enabling small and large companies to go online to find expert freelancers and collaborate on projects. Examples include website development, online marketing, mobile app developments, and data entry projects. Companies post their projects for free. twago focuses on seven European countries, most notably Germany, the UK, Spain, Italy and France. There are over 255,000 experts and agencies in 190 countries, offering their services on the platform. Since inception, twago has generated over &euro 250 million in project volume.
“With this investment, we recognize the trend of remote freelance work via platforms”, says Linda Galipeau, executive board member at Randstad. “The market of online platforms for freelance projects has great growth potential. This way of working eliminates geographical borders for project work and gives SME companies access to experts worldwide.”
RIF intends to build a portfolio of multiple smaller investments over the next couple of years. The fund will invest in the following areas: social sourcing, online platforms, mobile solutions, virtual solutions, gamification and big data analytics. Visit www.randstad.com/innovationfund for more information.
Randstad specializes in solutions in the field of flexible work and human resources services. Our services range from regular temporary staffing and permanent placements to inhouse, professionals, search & selection, and HR Solutions. The Randstad Group is one of the leading HR services providers in the world, with top-three positions in Argentina, Belgium & Luxembourg, Canada, Chile, France, Germany, Greece, India, Mexico, the Netherlands, Poland, Portugal, Spain, Switzerland, the UK, and the United States as well as major positions in Australia and Japan. In 2013, Randstad had approximately 28,000 corporate employees and around 4,600 branches and Inhouse locations in 39 countries around the world. Randstad generated revenue of &euro 16.6 billion in 2013. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad Holding nv is listed on the NYSE Euronext Amsterdam, where options for stocks in Randstad are also traded. For more information see www.randstad.com.