Solvate operates a talent search engine that helps employers and independent professionals find each other and work together in the cloud. The platform catalogs a network of more than 1,000 pre-qualified independent professionals covering services such as marketing, sales, business development, and IT. Businesses can search Solvate’s database; the company provides online time-tracking tools and handles payment collection and disbursement. Since August 2009 Solvate has facilitated thousands of remote work relationships on its platform. The company raised $4 million in a Series B financing and has $6.3 million in total funding. Solvate says it will use the new investment to enhance its user interface and expand its marketplace of clients and talent. Solvate provides on-demand, full-service remote office assistants (Timesmiths) who handle tasks such as slide creation, expense reports, transcription, trip planning, and CRM management. Customers request work by email, phone, or a web form and can monitor progress via Solvate’s site; assistants work in the customer’s software of choice. The company charges by five-minute increments with a base rate equivalent to $25 per hour. Solvate emphasizes human-led matching and service rather than a fully automated marketplace approach, while using technology selectively (for example, a job monitoring tool) to improve efficiency. The team relaunched the site after a redesign and says it is ready to reach a broader audience. Financially, the company has raised institutional capital and previously completed a seed round from DFJ.

Total raised

$6M

Funding rounds

2

Latest round

Series B

Latest activity

Feb 2011