Stoke Closes $15.5M Series A Funding Round
Israeli startup Stoke Talent is a freelance management system (FMS). The company declares that its solution makes it easy for companies to work with independent contractors, reduces the hassle of hiring, onboarding, tracking and managing invoices, while ensuring full legal and tax compliance. Stoke just brought in $15.5 million in a Series A funding round led by Battery Ventures, with participation from all previous investors and angels including TLV Partners, Dynamic and Loop
Stoke works with companies of all sizes, including unicorns like TripActions, SimilarWeb, Scale.ai and Verbit.
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Founded in 2019, Stoke Talent boasts that its on-demand talent management platform provides organizations with “control, transparency, and simplicity while giving them access to the largest and most diverse talent pool around.” Stoke declares that its platform ensures organizations are able to be dynamic and adaptive in order to captures business opportunities.
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Stoke 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.
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“The way we do business has changed, the talent we choose to work with needs to change with it,” says Shahar Erez, CEO and Co-founder of Stoke. “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.”
“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,” said Itzik Parnafes, a Battery general partner who is joining Stoke’s board. “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.”
