Gig website Fiverr has acquired Stoke Talent with hopes that the talent management company will “add more value to larger businesses and integrate with existing corporate workflows.”

Following the $95 million takeover, the company aims “to provide a holistic solution that will seamlessly integrate into business workflows in order to manage both online and offline freelance talent,” said Fiverr.

It described Stoke Talent as an “intuitive all-in-one solution” that helps companies manage their work with freelance talent, featuring tools to onboard and pay employees and track budgets.

While Stoke Talent will stay independently run, the companies will work together to harmonize Fiverr’s suite of B2B products, including Fiverr Business, with Stoke’s freelance management service.

“The Stoke acquisition made complete sense on multiple levels,” said Micha Kaufman, founder and CEO of Fiverr. “It supports Fiverr’s move upmarket and allows us to engage with much larger customers. It allows Fiverr to offer software solutions to businesses that already have freelancers that they work with and now can manage them easily.”

He added that the deal lets Fiverr pair its marketplace talent with major clients seeking new freelancers, and gives the site access to the vast offline freelancing market.

“Finally, Stoke is a fast-growing best-in-class product with an incredible team behind it that we are delighted to add to our family,” said Kaufman.

Headquartered in Tel Aviv, Stoke Talent was founded in 2019 by Shahar Erez and Hilik Paz. With a full-time staff of almost 30, it enables companies to build their own talent directory for both online and offline workers, track budget and milestone completions and provides solutions for tax, legal and workforce classification compliance, said Fiverr.

The deal is expected to step up Stoke’s go-to-market strategy and pace.

“We share Fiverr’s vision that freelance talent can help propel companies to new heights, both from a productivity and agility standpoint,” said CEO Erez. “This is an amazing opportunity to continue doing what we love to do, but on a much larger and broader scale.”

He added, “Together with Fiverr, we have the ability to build an ecosystem where businesses can implement a multi-channel freelancer strategy, and provide tools for them to efficiently manage not only freelancer engagement on Fiverr’s marketplace, but those off Fiverr’s marketplace as well. There are meaningful synergies between the two companies and we’re excited for what the future holds.”

Israel-based Fiverr was established in 2010 by Kaufman and Shai Wininger. With headquarters in Tel Aviv, the company went on to open additional offices Berlin, London, Miami, New York City, Phoenix and San Francisco.

This is not Fiverr’s first takeover: in Feb. 2021, it announced it had acquired Working Not Working, a competitor focused on highly paid creative freelancers in the advertising and marketing sectors.

And last month it bought CreativeLive, a Seattle-based online learning company that specializes in the creative industries and entrepreneurialism, seeking to expand its focus on upskilling.

Globally, Fiverr competes with freelancer sites such as Freelancer, Upwork and Dribbble.

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