Upwork's Shares Surge 3.4% After Launching New Subsidiary Lifted

Upwork shares jumped 3.4% after the company announced the launch of Lifted, a new subsidiary targeting the enterprise workforce. The new subsidiary combines talent sourcing, contracting, and workforce management for contingent work, building on recent acquisitions. The move represents a push into the enterprise staffing sector, a potentially lucrative market. Upwork's shares have been volatile, with 20 moves greater than 5% over the last year.

Upwork Inc. (Nasdaq: UPWK) saw its shares rise by 3.4% on July 2, 2025, following the announcement of Lifted, a new subsidiary designed to serve the enterprise contingent workforce market. The launch of Lifted marks a strategic move by Upwork to expand its offerings beyond its traditional freelance marketplace, aiming to capture a share of the potentially lucrative enterprise staffing sector.

Lifted, a wholly owned subsidiary of Upwork, provides a comprehensive solution for enterprises to source, contract, manage, and pay global contingent talent in a compliant and scalable manner. The new subsidiary combines the company's existing talent pool with the capabilities of its recent acquisitions, Bubty and Ascen, to offer a contract- and country-agnostic platform that supports various contingent work models, including independent contractors, agent of record (AOR), employer of record (EOR), staff augmentation, and statement of work (SOW) engagements [1].

The platform integrates seamlessly with customers' existing contingent workforce programs, partnering with managed service providers (MSPs) and vendor management systems (VMS). Lifted's capabilities are underpinned by its advanced technology, including global automated classification and payment infrastructure, which supports every contingent workforce model. This allows enterprises to scale their contingent workforces efficiently without compromising on quality or compliance.

The launch of Lifted is part of Upwork's broader strategy to leverage its extensive talent pool and AI capabilities to meet the evolving needs of modern enterprises. The company aims to provide a digitally native, fully flexible solution that integrates into existing enterprise ecosystems, addressing the trade-offs between flexibility, compliance, speed, and scale that legacy providers have historically imposed.

Upwork's stock has been volatile in recent months, with 20 moves greater than 5% over the last year. However, the launch of Lifted signals a potential turnaround for the company, as it positions itself to capture a larger share of the enterprise staffing market. The success of Lifted could significantly impact Upwork's revenue growth and market position, making it an attractive investment opportunity for financial professionals.

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[1] https://www.marketscreener.com/news/upwork-inc-introduces-lifted-a-subsidiary-serving-enterprises-with-full-suite-of-contingent-workfo-ce7c51dddb8ff123