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Hello, tech fans! Today, we’re diving into some exciting news about Upwork, the freelancer connection platform, which is making bold moves into the corporate staffing arena.
Upwork has announced it’s acquiring two innovative companies—Bubty, a workforce management platform, and Ascen, a global compliance and employer of record (EOR) firm. These acquisitions aim to create a new standalone enterprise-focused business, broadening Upwork’s reach beyond its usual freelance network.
This new enterprise entity will support various contract types, including employer of record and staff augmentation, allowing companies to access talent with both flexibility and compliance. According to CEO Hayden Brown, this step is driven by increasing demand from existing clients seeking these capabilities, which traditional providers often force to choose between.
The move is strategic, as it separates Upwork’s core small-business operations from the larger enterprise market, giving each its own focus, branding, and growth potential. Brown highlights that over 100 potential companies were considered before selecting Bubty and Ascen, thanks to how seamlessly their technology works together and with Upwork’s existing services.
Currently, Upwork’s enterprise segment generates about $100 million of the company’s $750 million annual revenue, but this new venture promises to position the company more strongly in the evolving corporate staffing landscape.
