Toptal, a global freelance collaboration platform that connects businesses with software engineers, designers, financial experts, product managers, and project managers, has acquired YouTeam, the company founded by Ukrainians.
As co-founder Yurij Riphyak said on LinkedIn, YouTeam is now part of Toptal. According to Forbes Ukraine, after the deal, Ukrainian venture capital funds u.ventures and Digital Future conducted an exit.
"YouTeam is now part of Toptal! We’re inspired and honored to join the legend that has transformed the talent industry forever. Thank you, incredible team who kept on building, caring and believing through all the ups and downs to create this success story. What a fantastic journey it was! Here’s to the next one!" Yurij Riphyak wrote.
The parties did not disclose the amount of the deal, but YouTeam, a service for hiring IT specialists, had more than $765,000 in investments. The investors included the American venture fund Y Combinator with $120,000, as well as the Ukrainian funds u.ventures with $300,000 and Digital Future with $345,000.
According to the website of YouTeam, at the time of signing the agreement with Toptal, the platform had 35 employees, 250+ clients — two Fortune 1000 companies and more than 50 companies from the Y Combinator portfolio.
| Reference: Toptal is a freelance hiring platform founded by entrepreneurs Tasso Du Val and Brendan Benchott in 2010. The name stands for “top talent”. The service coordinates business relations with developers from its network and acts as an intermediary for the terms of each vacancy. In 2016, the company acquired Skillbridge, a freelance platform that offered freelance accountants, statisticians, and consultants in market research, financial modeling, and due diligence. In 2017, the company launched a vertical specializing in software development and designers for the automotive industry. It also launched a vertical for blockchain engineers in February 2018. Toptal is currently looking for specialists in development, design, finance, and project management. Its clients include the American IT company Hewlett Packard Enterprise and the pharmaceutical giant Pfizer, with annual revenues of $200 million and total payments of $4 billion. |
Recently, we wrote about Projector's LEZO AI career service that helps people find jobs by skill. In less than a year after its launch, the project has attracted thousands of jobseekers and companies offering jobs. Its peculiarity is in its approach: the selection of vacancies is based not on the profession, but on the skills and experience of the candidate.