SaaP Platform Fiverr Preps for Future Growth

The "Gig" economy got another virtual shot in the arm, as services-as-a-product (SaaP) platform Fiverr released a newly updated version (3.0) and announced it raised $30 million in new funding to fuel its future growth.

Fiverr announced Series C funding from Bessemer Venture Partners, Accel Partners and Qumra Capital (as well as other private investors).

"By 2020 the number of independent workers is predicted to double, with online freelancing increasing at an even faster rate," says Fiverr Co-Founder and CEO Micha Kaufman. "The landscape of opportunity far exceeds the current playing field. This funding is an affirmation of the brand resonance and trust we have established in this multi-billion dollar market of opportunity."  

While few will argue that the future of freelancing is through sites like Fiverr, the platform needs to evolve to remain relevant. And that's just what it's doing. Beginning today and starting with 10 categories (coming to all categories in the coming weeks) Fiverr 3.0 allows buyers to customize their search for their own specific needs. For example, in the case of a voice-over, buyers will be able to sort by criteria including whether the seller is top-rated, along with gender, accent and region.

"One of the many reasons Fiverr is so exciting is that it is the only service-based marketplace modeled on ecommerce platforms," says Adam Fisher, Partner at Bessemer Venture Partners. "Like eBay and Amazon, customers simply browse, search, and buy, selecting from more than 100 categories and millions of services. It's as easy as buying a book online. Why hire someone to do something that is done thousands of times a day for a pricey sum and an unknown delivery date when you can order for next day delivery on Fiverr?"