Alongside its announcement of a $30M funding round, the micro-jobs market company launched version 3.0 of its platform, with extensive targeted search
Israeli startup Fiverr, the micro-jobs board allowing users to offer or purchase services Gigs at a fixed price of $5 and upwards of $500, announced the completion of the third round of financing totaling $30M. The current funding round was led by Bessemer Venture Partners and Accel Partners along with Qumra Capital and other private investors.
How to raise $30M from $5
Fiverr calls their model Services-as-a-Product (SaaP). Their stated goal is to help users worldwide become self-employed by steadily increasing their earnings potential as they continue to grow their networks and service offerings on Fiverr’s platform.
Last December the company launched its mobile app which offers more than 3 million different Gigs spread out across 120 categories. Similar to the company’s Web product, the application could also track important elements such as users’ rating, the rating of the sellers and other options to help users find the Gigs for them.
Now, the company is further expanding its range of services and along with the announcement of the funding comes the launch of Fiverr 3.0. The upgrade will allow buyers to adjust their various searches in order to find exactly what they need. For example, if a small business is interested in purchasing Voiceover for a video of a new product, it can search and sort the results according to parameters pertaining specifically to their criteria; accent, location, gender etc.
The new upgrade is available now for their top 10 categories. Fiverr explains that in the coming weeks it will grow these search improvements to include all categories of existing services on the platform.
Continuing to improve
Fiverr was founded in 2010 by Micha Kaufman and Shai Wininger. Its customers hail from 196 countries around the world. Fiverr employs 130 people at its offices in New York, Miami and Tel Aviv. It plans to use the current amount of funding to continue to develop, expand and improve its product for sellers and buyers the world over.
Micha Kaufman, co-founder and CEO of the company says that by 2020 the number of self-employed workers is expected to double, which in return will impact the world of online job markets, growing it at an incredible rate. Kaufman insists that the current funding round is a confirmation of Fiverr’s brand name and demonstrates how the company was able to establish itself in a market valued in the billions.