21 Jul 2010   |   News

Humangrid funding hits €3.5M


Funding

New investor Finance Partners CFP & Founders Investments has put €500,000 into the crowdsourcing start-up Humangrid, bringing the amount raised by the company in 2010 to date to €3.5 million.

“Humangrid is a unique business model in Europe, based on the ideas of crowdsourcing and atomisation of work,” said Andreas Thümmler, CEO of CFP & Founders Investments. “We see in this a long-term, mega trend that interacts very positively with many other business models on the Internet and promises substantial growth.”

Humangrid enables companies to outsource work in areas such as text creation, product classification, data recording and search, to numerous freelance workers. Various quality assurance measures are in place to ensure high-quality results. Humangrid breaks complex tasks down into micro jobs, passes them on, and, following successful execution, collates them again based on strict quality control

The company entered the German market in mid 2009 and the US market, where the website is called Clickworker, in early 2010. The range of services offered has since been steadily expanded in line with market requirements and specific customer requests. The number of clickworkers has also risen from a total of 10,000 to more than 40,000 within the past six months. In the US more than 15,000 clickworkers registered in two months.

“The company’s growth is still nowhere near coming to an end. The opportunities for using this internet platform are far from having been fully exploited. There will consequently be ongoing potential for gaining new customers and developing new markets. This latest capital increase underpins the further growth steps that the company plans to take,” says humangrid’s CEO Wolfgang Kitza.

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