TapChief, an online platform for professionals to earn incomes without full-time jobs, has raised $1.5Mn in funding from early-stage venture capital firm Blume Ventures.
This is the startup's second financing round this year, after it raised $650,000 from a bevvy of 50+ investors in June this year. Blume Ventures Managing Partner Sanjay Nath will join the company’s board as part of the investment.
The Bengaluru-based startup plans to use the funds to expand its network of professionals, enhance its product offering and integrate its technology with existing enterprise people management systems like human resource systems, people management systems and vendor management systems.
TapChief Co-founder Shashank Murali stated, “One in five professionals globally today are independent and this is expected to grow to 50% by the next decade. Our goal is to empower Indian professionals to have access to the widest selection of gigs in the fastest manner at the right income benchmarks.”
Founded in 2016 by Shashank Murali, Binay Krishna, and Arjun Krishna, TapChief pivoted from an online advice platform to a full-stack future of work platform in mid-2017. It claims to have over 100,000 professionals using its platform to aggregate their personal brand online, learn from experts and work with businesses on gigs. TapChief, as a concierge, enables both sides through an array of proprietary technology solutions to manage everything from discovery to payments.
The startup claims that professionals on the platform have earned $2 Mn across more than 25,000 gigs on its platform so far. It revealed that the adoption for experienced talent is highest among technology, product, learning and development, and marketing teams, particularly in sectors like SaaS, ecommerce, FMCG, media and education.
The startup is banking on the rising gig economy. With nearly 25% of organizations expected to have more than one-third of their workforce as independent professionals in the next decade, as per, Sanjay Nath of Blume Ventures, the funding is a validation of its working model that aims to de-risk the concept of remote independent work by creating thousands of solopreneurs.