Afternoon Coffee: Workforce platform Fulcrum closes seed round; Wipro’s Topcoder launches tech talent sourcing offering; Amazon in India

pressmaster/Adobe Stock

Fulcrum, a platform for bringing together large enterprises and on-demand talent, told Spend Matters that it had raised a $1 million seed round led by Greatscale Ventures. Fulcrum said its role is to connects Fortune 1000 companies with top online gig and freelance talent providers while maintaining full compliance.

Spend Matters first reported about Fulcrum in August 2018. At that time we commented: “For contingent workforce management buyers, Fulcrum is an interesting new player in the still emerging market for solutions that enable management and sourcing of an enterprise’s increasingly important external — in particular, independent — talent.”  Because of its unique, innovative solution and positive market traction, Fulcrum earned a berth in Spend Matters’ first Future 5 list in September of this year.

Fortune 1000 companies face a range of online platforms from which freelance talent could be sourced.  But “from which ones” and “exactly how” have been questions that have blunted adoption. Fulcrum has aimed to solve this problem by bringing together leading gig economy talent marketplaces, compliance vendors and advanced workflow technology to build a platform where enterprise companies can design, manage and execute on-demand] work.

Fulcrum is not just technology, it provides dedicated service to client businesses and has also been developing its own methodology to enable companies to organize and manage short-term work and an on-demand workforce. According to Fulcrum, its solution was designed to work within the legislative frameworks of more than 80 countries through its fully compliant platform. The company has also told us that it is working, in a complementary way, with a number of established VMS providers and MSPs.

Today, Fulcrum can facilitate access to more than 15 million skilled freelancers globally, through more than 10 curated platforms. A number of well-known Fortune 1000 companies are using Fulcrum, and it appears that more will be joining the crowd in the coming months.

Wipro’s Topcoder enters gig economy with Talent-as-a-Service

Topcoder, a Wipro company that’s described as the “world’s largest technology network and on-demand digital talent platform,” announced the launch of a new offering, “Talent-as-a-Service” (TaaS).  This new solution, which allows customers to hire specific individuals, represents something of a departure from most of the company’s history as one of the top programming challenge crowdsourcing solution providers.

Topcoder was founded in 2001 running competitive programming challenges, and from there it evolved into a well-known software/analytics crowdsourcing platform. The company was acquired by Appirio in 2013, and in 2014 had a global community of 700,000 technical experts participating in crowdsourcing challenges. Wipro acquired Appirio in 2017, at which time it was set up as a Wipro operating company and brand.

Today, Topcoder hosts a community of about 1.5 million experts in 190 countries and conducts over 1,400 crowd challenges each quarter for companies of all sizes. Under Wipro, Topcoder enlarged its service offerings beyond software development to include Data Science and AI, Enterprise Crowdtesting, Workforce Transformation — and now Talent-as-a-Service (which is similar to an online freelancer marketplace, where, in contrast to crowdsourcing, businesses can engage specific experts to perform a specified project).

Michael P. Morris, global head of crowdsourcing of Wipro Limited, was quoted as saying: “There’s talk of a skills gap driving an apparent talent shortage, but at Topcoder, we don’t believe that’s the reason companies struggle to find and hire the most qualified technologists. There’s really no war for talent, but more of a ‘persistent blind spot’ in innovative technology talent acquisition. Highly skilled technologists from around the world have never been more accessible. The key is figuring out how to find, attract and connect that talent with companies that need them most, and then creating project opportunities too attractive to be dismissed.”

For more information on crowdsourcing and IT talent sourcing trends, see: “Crowdsourcing: New Trends and Developments” Part 1 and Part 2 and “IT Talent and Services Sourcing: Innovation in a Challenging Environment” Part 1 and Part 2.

Amazon Big in India, Bezos says

Chief executive of e-commerce giant Amazon, Jeff Bezos, said his company’s India business was doing "extremely well." His remarks came in response to a question on Amazon's concerns over some Indian policies with regard to digitization, according to the news agency Press Trust of India as published in Live Mint.

"Regulatory stability is the thing that we would always hope for India. Whatever the regulations are ... they are stable in time and that's one of the things we're hoping will now be true," Bezos told reporters on the sidelines of his induction into the National Portrait Gallery in India on Sunday.

Over the years, Amazon has pumped $600 million into its various units in India.

Honeywell, S&K Logistics sign service deal

North Carolina-based Honeywell has signed a new service agreement with S&K Logistics Services to reduce aircraft downtime and cut costs for foreign military sales customers worldwide. The collaboration was announced at a signing ceremony on Day 1 of the Dubai Airshow.

The agreement with S&K Logistics Services will support Foreign Military Sales customers, with fast, reliable repairs and maintenance for all their Honeywell parts.

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.