Upwork launches Lifted, a new subsidiary for enterprise clients.

Upwork Inc. has launched Lifted, a subsidiary that provides a unified solution for enterprise clients to source, contract, and manage contingent workers across various classifications and contract types. This expansion aims to provide comprehensive solutions for businesses to engage highly skilled talent on Upwork, addressing the need for flexible workforce management. The move advances Upwork's leadership in the AI era and provides a one-stop-shop for businesses to manage all types of contingent work.

Upwork Inc. (NASDAQ: UPWK) has announced the launch of Lifted, a new wholly-owned subsidiary designed to provide comprehensive contingent workforce solutions for enterprise clients. The subsidiary, which integrates technology from Upwork's acquisitions of Bubty and Ascen, aims to address the complex needs of large organizations in managing various types of contingent work.

Lifted offers a unified platform that combines talent sourcing, contracting, and workforce management capabilities, supporting independent contractors, agent of record (AOR), employer of record (EOR), staff augmentation, and statement of work (SOW) engagements. This integrated approach allows enterprises to manage global talent through a single solution, addressing a significant pain point for large organizations that typically navigate fragmented systems for different workforce categories.

The subsidiary leverages Upwork's extensive talent pool, including over 250,000 AI experts globally, and offers automated classification and payment infrastructure to support various contingent workforce models. By integrating with existing enterprise systems and managed service providers (MSPs) and vendor management systems (VMS), Lifted positions Upwork to capture revenue from enterprise workforce programs that require such partnerships.

Upwork's strategic expansion through Lifted represents a significant shift from its core marketplace model, potentially driving higher-value enterprise relationships and expanded revenue streams in the growing contingent workforce sector. The move underscores Upwork's evolution into a comprehensive work infrastructure company, driven by strategic acquisitions and a focus on technology integration.

References:
[1] https://www.stocktitan.net/news/UPWK/upwork-inc-introduces-lifted-a-subsidiary-serving-enterprises-with-ic5v3pmgm5rp.html
[2] https://news.outsourceaccelerator.com/upwork-corporate-staffing-bubty-ascen/