Roy Gilbert

Malt raises $97M at a $489M valuation for its freelance marketplace for developers

The world of professional services has long relied on contractors to fill in for assignments and projects that might not be a part of the course of daily work, but are essential work nonetheless. Today, a startup that’s built a marketplace to make it easier for freelance developers, designers and others with technical skills with those job opportunities is announcing a significant round of funding to expand its business.

Malt, which provides a way for developers, data scientists, designers, project managers and others working in related fields to connect with fixed-term job opportunities in their fields, has picked up €80 million ($97 million at today’s rates), money that the company plans to use to expand its business to more markets.

We understand from sources that the investment — led by Goldman Sachs Growth Equity and Eurazeo — values Malt at €400 million ($489 million).

Vincent Huguet, Malt’s CEO who co-founded the company with Hugo Lassiège and Jean-Baptiste Lemée, said in an interview that the funding in part will be used towards continuing to expand the company across Europe with a view to, longer term, also breaking into the U.S. In Europe, the company was founded in Paris, and it currently has operations in France (Paris, Lyon), Germany (Munich), and Spain (Madrid). The plan is to extend that to Benelux next, with the UK and Italy company after that.

The company has to date amassed 250,000 freelancers in its community, with 30,000 businesses tapping this pool to fill jobs. End customers include the likes […]

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