Upwork—the go-to platform for freelance talent—is leveling up. The company has made two strategic acquisitions to launch a stand-alone enterprise-focused business, signaling a bold pivot into full-spectrum corporate staffing.
Strategic Acquisitions Propel Enterprise Growth
Upwork has acquired Bubty, a workforce management platform, and sealed a definitive agreement to acquire Ascen, a global compliance and employer-of-record (EOR) provider. These moves are designed to integrate seamlessly with Upwork’s existing enterprise engine to create a dedicated enterprise entity within the company.
This marks a significant shift in Upwork’s offering—going beyond its traditional freelance marketplace to enter areas like agent of record, EOR, and staff augmentation. In effect, Upwork is positioning itself as a contender in broader corporate staffing solutions.
“Most existing providers force you to choose between flexibility and compliance or speed and scale,”said Upwork CEO Hayden Brown in an interview with TechCrunch. “With this new capability, we’re refusing to compromise.”
It’s a response to demand: Upwork found that many of its enterprise clients were asking for access to talent pools beyond independent contractors.
A New Entity with Renewed Focus
Upwork’s enterprise division, currently generating around $100 million in annual revenue of the company’s near $750 million total, will now operate separately to better serve corporate clients. By keeping it distinct, Upwork aims to offer sharper branding and more focused compliance and integration.
The choice of Bubty and Ascen wasn’t random. Upwork carefully vetted over 100 acquisition candidates before selecting them. Extensive pilot testing showed how well their technology fit with Upwork’s platform—and with each other.
“We saw how impactful their tech was—and how smoothly it snapped together with our own offerings,” Brown explained.
Full details on the branding and service features of this new enterprise-focused business are expected to be unveiled later this year.
Why This Matters
- Broader Talent Options: Upwork will now manage not just freelancers, but also staff placements and compliance-heavy roles.
- Stronger Enterprise Fit: A standalone structure lets Upwork tailor its services to complex corporate needs.
- Competitive Edge: Upwork is now competing with traditional staffing firms and EOR providers—all while keeping its digital-first edge.
