Terawork

Terawork is a one-stop freelance marketplace helping African talent earn income globally through freelancing. Terawork seeks to take outsourcing to the next level by offering a robust platform that matches customers with the most suitable freelancers for their job offers. To the customer, the platform offers more than just a diversified crop of professionals providing freelancing service; it comes with numerous quality checks that ensure that projects are handled and delivered in good time by the most capable hands.  To the freelancers, the platform offers more than just a go-to source for orders; TERAWORK cultivates a corporate culture that stimulates continuous self-development and human capacity building. It encourages a feedback loop that allows clients to connect with freelancers on a much deeper level, such that’s highly beneficial to both customer experience and working experience.  How It Works TERAWORK is a platform that connects talents with clients in need of their services from all around the globe. The guiding principles of the organization, which vies to eliminate impediments to outsourcing, reflects in the fact that the platform is completely free for both service providers and customers to sign up on, with secure registration systems and air-tight payment processes.  To sign up as a service provider, you simply need to create a free, eye-catching profile (probably featuring videos and animations) that describes the unique skills and services that you offer. Afterward, you’ll be receiving messages or notifications about new projects or quotation requests. You can also check the workstore to pick up jobs that you qualify for.  To place orders, log into your free account and either order work directly from a particular service provider with a befitting profile, or post a job request (commonly called Request for Quotation or RFQ) and then choose from the different quotes and responses from qualified talents who’ll be contacting you.  The funds you allocate for the project remains secured in an escrow setup until you approve of the completed work done. Note that we reserve the right to intervene in cases where a service provider feels the customer unduly rejects a submitted work. Key Features of the TERAWORK Platform The Work Store: The section of the platform where customers post job offers for qualified freelancers to see and respond with quotes and proposals. The Escrow Payment System: We escrow payments and release your deposited funds to a service provider only after you approve of the finished work. A Rich, All-Inclusive Pool of Talents: Our pool of talents cater to an all-inclusive client base from all around the world, from startups looking for creative design talents, to businesses looking to implement certain digital strategies, and blog owners looking for fresh blog posts. Two-Way Review System: Customers are encouraged to leave reviews of work done on the service provider’s public profile, and the service provider can also rate customers they’ve worked for to help other freelancers establish expectations for working with the customer. Note that we reserve the right to prevent clients or freelancers from publishing unfair reviews.  Multiple Delivery Channels: Depending on the type of service requested, your deliverable can be sent to you via the TERAWORK cloud, courier, or a specified location where you can pick it up. Conclusion TERAWORK is here to knock several drawbacks of outsourcing out of the equation for both customers and freelancers. Charging a small commission on works done on the platform, it offers clients a rich stock of excellent talents and offers freelancers an integrated office in a box that allows them to find and fill work orders hassle-free.

Terawork is a Nigerian online freelance marketplace used by individuals, agencies, and small and medium-sized enterprises (SMEs). The platform also offers a search engine, real-time chat, escrow system, work management tools, payments, and post-work review capabilities. The platform’s freelancer pool provides more than 55 services in nine categories, such as programming and tech, web development and digital marketing, video and animation, audio services, art, and design. In addition to the categories offered, the platform&nbsp; is testing non-professional services, including fashion (makeup artists), fitness (instructors), and events (planning), among others.&nbsp;

The on-demand economy has finally reached white collar work.

Online Freelancing Platforms

Nigerian recruitment startup Terawork launches app to help employers hire on the go

Terawork is a Nigerian online freelance marketplace used by individuals, agencies, and small and medium-sized enterprises (SMEs). The platform also offers a search engine, real-time chat, escrow system, work management tools, payments, and post-work review capabilities. The platform’s freelancer pool provides more than 55 services in nine categories, such as programming and tech, web development and digital marketing, video and animation, audio services, art, and design. In addition to the categories offered, the platform&nbsp; is testing non-professional services, including fashion (makeup artists), fitness (instructors), and events (planning), among others.&nbsp;Notably, the company claims to be able to match enterprises with freelancers in only 30 minutes. Terawork can also be used to make full-time hires as well.Depending on the project, freelancers are charged a commission between 7% and 13% compared to the 15%-25% charged by larger players such as Upwork and Fiverr.&nbsp;The platform has mechanisms to discourage scams by provisioning sanctions, such as reducing the visibility of freelancer profiles reported by users.&nbsp;Key customers and partnershipsNotable clients included Google, Deloitte and FirstBank.

Textbroker is a platform for creative writing freelancers to connect with businesses. Textbroker freelancers work on projects such as social media posts, news stories, and blog posts. The platform provides content in over 35 languages, while connecting businesses with freelancers in the target country. Platform pricing starts at USD 2.3 cents per word.Key customers and partnershipsAs of October 2024, the platform served over 80,000 clients, including eBay, Otto and RVshare. The company also had 100,000+ registered freelancers on the platform as of October 2024.

Textbroker

Procurement Freelancers provides freelancers for procurement functions such as sourcing/category management, quality control and assurance, and advisory. Its algorithm calculates the relevance between experts' skills and client briefs by scoring criteria like skills, experience, and language. It prioritizes search criteria based on user preferences to deliver the most accurate match.The platform is free to use for freelancers, while clients purchase subscriptions to hire and manage freelancers at no added cost.In March 2019, the company acquired Dragon Sourcing, a procurement and sourcing service provider.Key competitors: None under coverage. (The platform connects enterprises with procurement-based freelancers)

Procurement Freelancers

Kolabtree is a UK-based freelancer marketplace connecting businesses and scientists. The platform provides businesses with skills such as data analysis, product development, scientific consulting, desk research, and other science related services within 24 hours of receiving business requests.Kolabtree also provides concierge services for writing, with fees ranging from USD 2,000 to USD 4,000, depending on the timeline. Similarly, its concierge services for statistical analysis are priced between USD 250 and USD 625, also based on the timeline.The company generates revenue via a 20% service fee charged to the freelancers based on the total project invoice.Key customers and partnershipsAs of October 2024, Kolabtree served over 3,200 businesses including notable enterprises such as NASA, Volkswagen and Moderna. Further, the platform had over 20,000 scientists and experts as of October 2024.Key competitors:&nbsp;None under coverage. (Kolabtree offers a freelancing platform connecting enterprises with scientists).

kolabtree

Codersera is a freelance marketplace for enterprises to find software engineers. The company claims to provide the top 1% of developers through its five tier vetting process. The platform’s freelancers cover a spectrum of developer and data science technologies such as iOS, Android, Python, and Java. Additionally, freelancers provide SaaS platform development, testing and QA services and migration away from legacy systems.Key customers and partnershipsAs of October 2024, the platform had over 20,000 vetted freelancers and 100+ clients on its platform.

Codersera Inc

Upwork is an online labor marketplace that assists in engaging freelancers and businesses in discovering direct labor arrangements for both short and long-term projects. Upwork’s roots date back to 1998 and 2003 when online talent marketplaces Elance and oDesk were founded. In December 2013, Elance and oDesk announced its merger with a combined freelancer base of over 8 million (5 million from oDesk and 3 million from Elance). Subsequent to the merger, Elance-oDesk continued to report losses and required a bailout package of USD 30 million from Benchmark Capital in November 2014. The company was rebranded as Upwork in May 2015.&nbsp;Unlike Fiverr, Upwork encourages freelancers to develop a profile focused on specific expertise, helping them build a niche reputation. Fiverr, on the other hand, allows freelancers to offer a wide range of services through individual gigs, enabling them to market multiple skill sets simultaneously. In&nbsp;<a href="https://sp-edge.com/updates/16664">February 2023</a> Upwork expanded its offerings to include full-time hiring for businesses with features such as finding, vetting, hiring, onboarding, and paying professionals for full-time work arrangements.&nbsp; Additionally, in&nbsp;<a href="https://sp-edge.com/updates/24502">December 2023</a>, Upwork launched Chat Pro, a GPT-4-powered app in beta, to enhance work efficiency. In&nbsp;<a href="https://sp-edge.com/updates/35568">October 2024</a>, Upwork introduced&nbsp; Uma, an AI assistant, the Business Plus plan for Expert-Vetted talent, Featured Jobs, and Boosted Profiles. At the time, the company also announced a 21% workforce&nbsp;<a href="https://sp-edge.com/updates/35569">reduction</a> aiming to save USD 60 million annually.Upwork also offers several solutions to streamline hiring: Talent Scout, connecting clients with pre-vetted freelancers; the Work Marketplace and Project Catalog for easy hiring; and the Virtual Talent Bench, which helps businesses build and maintain a network of freelancers for ongoing collaboration.The company generates revenue via a 10% project fee charged from clients, and freelancer subscriptions priced at USD 20 per month.In&nbsp;<a href="https://www.cnbc.com/2018/10/03/upwork-ceo-on-ipo-day-we-do-not-incentivize-for-less-pay-for-freelancers.html">October 2018</a>, Upwork listed on the NASDAQ to raise approximately USD 187 million. In FY2023, Upwork generated USD 689 million in revenue (up 11% YoY). The company guided FY2024 revenue between USD 760 million to USD 780 million, representing 11.7% YoY growth at the midpoint. Diluted earnings per share (EPS) stood at USD 0.13 in FY2023, compared to a loss per share of USD 0.69 in FY2022.Key customers and partnerships&nbsp;The company recorded 868,000 active clients as of August 2024, with notable clients including Microsoft, Airbnb and NASDAQ, among others.In&nbsp;<a href="https://sp-edge.com/updates/33129">August 2024,</a> Upwork partnered with Beeline to&nbsp;integrate its talent pool into Beeline’s vendor management system (VMS), offering access to over 10,000 professionals across 125+ categories. Previously, in&nbsp;<a href="https://investors.upwork.com/news-releases/news-release-details/upwork-partners-catch-expand-freelancers-access-benefits">January 2022</a>, the company partnered with Catch to offer freelancers access to personal payroll and healthcare benefits.&nbsp;

Upwork

Platforms that provide expertise in specialized areas such as law and scientific research.

Platforms that provide expertise in writing, translation, and editing.

Platforms that provide marketing expertise across email, SEO, and social media marketing functions.

Platforms that offer expertise related to web, mobile and software development with freelance developers fluent across major programming languages.

Platforms that focus on offering expertise in design and creative functions such as photography, video editing, and animation.

Platforms that offer expertise across multiple verticals such as design and creative, web, mobile and software development, finance, and marketing.

Solutions use AI/Ml for to match freelancers with clients and to vet freelancers

Some solutions introduced by players in this hub are using a B2B SaaS model

Terawork

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