Stoke closes $15.5 million Series A round
Stoke closed a $15.5 million Series A funding round led by Battery Ventures, bringing its total funding to $20 million.
Stoke simplifies the way freelancers collaborate with the non-payroll workforce, which includes freelancers, contractors, consultants, agencies, and gig workers. It is a secure all-in-one platform that enables companies to hire top talents quickly, set up automated onboarding workflows aligned with government guidelines, pay multiple invoices across 190 countries, all while ensuring management, finance and human resources teams have full visibility and control over budgets, in addition to automatic legal and tax compliance.
“The way we do business has changed, the talent we choose to work with needs to change with it. But, we can’t expect it when neither side has yet had the proper support. These funds will follow us as we build out our own category and cement a single source of truth for business leaders to manage any and every aspect of freelance talent overhead, and to help them securely leverage the most dynamic kind of workforce.” – Shahar Erez, CEO and Co-founder of Stoke.
“At Battery we’ve made many investments around the future of work. But we believe the comprehensive solution Stoke is building to help companies manage their growing networks of freelancers and independent contractors is really unique—and is obviously very relevant today. Having one tool that can source, onboard, manage, pay and ensure compliance with this extended workforce helps companies become more productive and stay agile without adding risk. We are thrilled to partner with the team and look forward to helping Stoke scale its operations, including in the U.S., in the months and years to come.” – Itzik Parnafes, a Battery general partner who is joining Stoke’s board.
Bottom Line: Your next partner.