The online legal marketplace UpCounsel announced Tuesday it topped off its earlier seed rounds, totaling $4 million, with a Series A round of $10 million. This news comes just on the heels of our recent article on an online consulting marketplace, Expert360, raising additional investment. These events seem to suggest continuing interest on the part of investors and confidence in the future of online work platforms, despite the now intense controversy about the legal classification of platform-engaged workers as either independent contractors or employees.
In Accenture’s most recent study on procurement, Procurement’s Next Frontier – The Future Will Give Rise to an Organization of One, the authors suggest the “virtual company mall” will provide the wrapper for the core of a firm’s shopping and tactical buying experience – i.e., how frontline users – and perhaps even procurement – shop for and purchase goods and services. It’s a clever thought to suggest that a single toolset – or more likely a single interface for users – will form the basis of a shopping system. It’s also clever to call it a mall, since within a mall, much like the future buying system the authors describe, there can be different branches or anchor stores as well as all of the individual merchants in smaller spaces that sell their wares. Yet for this analogy to work, a lot of elements need to come together.
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