DEMO.com > Solvate

Solvate

Conference: DEMO Spring 2010
Market Segment: Small Business Software and Services
Funding Amount: $1,000,001-$5,000,000
Funding Round: Series A
Funding Details: $2.3 million Series A round in October 2009. Thatcher Bell at DFJ Gotham and Eric Wiesen at RRE sit on the board.
Competitors: No direct competitors. Secondary competitors: Temporary staffing firms.
Product Description: Solvate is a staffing engine that connects companies with the best consultants. We handle recruiting, contracts, rate negotiation and payment. Then, Solvate's staffing engine matches companies with the right talent for their project. Important factors to match clients to the right talent include logistical data (availability, rates), social data (strength of the consultant's LinkedIn network, and descriptive data (prior companies and industries, Solvate's "I am a ___ who can ____" lexicon).
Market Opportunity: 2007 U.S. Census data quotes a $74 billion annual U.S. temp staffing market. The 2007 census data counts 25 million businesses in the U.S. with 1-10 employees. This segment simply does not have endless hiring resources. There is a $30 billion global expert network market.