SAN FRANCISCO, CA (PRWEB) March 26, 2013
Rev.com launches today to build the best place for freelancers to work. Rev is a services marketplace that works with the top 10 percent of freelancers, and delivers services to businesses at half the price and twice the speed of traditional vendors. Rev’s first two services are audio transcription and document translation. Rev today also announced that it has raised $4.5 million in Series A financing. This round is led by Globespan Capital and adds partner Venky Ganesan to its board. Additional participation from other notable investors includes Craig Sherman (former COO of Ancestry.com) and Austin Ligon (co-founder of CarMax).
In typical freelance marketplaces, the customer is required to evaluate, hire and manage the workers. Most businesses do not have the time or inclination to learn how to become expert managers of a remote workforce, and unfortunately within these scenarios quality is not guaranteed. Similarly, with crowdsourcing options, jobs are broken down into micro-tasks where context is lost and quality can suffer. With Rev, customers don’t have to worry about vetting workers or managing the project; Rev vets the workers, manages the project, and guarantees quality. In short, Rev unlocks the benefits of the freelance workforce, minus the hassle.
“Rev aims to do for online work what Amazon did for online retail; revolutionize the customer experience, category by category,” says Venky Ganesan, partner at Globespan Capital. “While other marketplaces sell labor, Rev offers services that solve real-world business needs.”
Rev is a two-sided marketplace, with both demand and supply. Demand consists of thousands of businesses that trust Rev for services, which today include audio transcription and document translation. Supply consists of freelancers that work with Rev to make a living. Traditional marketplaces face the problem of caveat emptor; businesses often pay but don’t get what they want, and freelancers often apply but don’t find enough work. On many sites, freelancers tend to spend over 50 percent of their time looking for work; this is unattractive to top freelancers. Rev has built a verticalized technology platform designed to give customers fast turnaround and high quality, and to keep top freelancers busy.
Businesses choose Rev because the service is better, faster and cheaper than alternatives. Translation and transcription were selected as the first services for two key factors; companies worldwide need them and Rev has the ability to implement standardized processes that increase quality and speed of finished projects. Rev’s clients span business, legal and government; and range from reporters who need an interview transcript to marketing departments that need to translate press releases. Rev’s brand promise is to deliver ever-faster turnaround and ever-growing quality.
“The sharing economy is growing. While millions of people are sharing cars, houses and office space, we believe that the world’s greatest under-utilized asset is human capital,” says Jason Chicola, CEO of Rev. “Rev’s secret sauce is its community of vetted freelancers. To work with Rev, freelancers must pass entrance tests and maintain high performance ratings over time. We receive thousands of applicants monthly, but only work with the top 10 percent. We believe the key to great business results is attracting and retaining the best workers, so we built a system where the best workers can make more money than elsewhere, through higher utilization. Freelancers told us that money is necessary but not sufficient; they want a fair and social workplace, just like any employee in a traditional office environment. So we built our work platform to be productive, fair and social.”
Rev.com was founded in 2010 and is headquartered in San Francisco. It has been operating in beta for over 18 months. Series A led by Globespan Capital was closed in August 2012. Businesses interested in Rev’s services can visit Rev.com to submit translation and transcription projects that will be completed within 24 hours. Freelancers that are interested in working on the Rev platform can apply at http://www.rev.com/contact.
Press inquiries can be directed to Kimberly Angell of Wish PR at press at Rev dot com.
Rev is a services marketplace that works with the top 10 percent of freelancers, and delivers services to businesses at half the price and twice the speed of traditional vendors. Rev’s first two services are audio transcription and document translation. Unlike offerings that require businesses to coordinate projects directly with freelancers, Rev vets the workers, manages the project, and guarantees quality. Rev’s mission is to build the best place for freelancers to work. Rev is headquartered in San Francisco and is funded by Globespan Capital.http://www.rev.com.