WorkMarket
WorkMarket, an ADP subsidiary founded in 2010, provides a cloud-based platform for onboarding, verifying, paying, and managing independent contractors and freelancers, serving SMB and enterprise clients with integrated compliance, payment, and talent management tools.
- Company typePrivate
- Founded2010
- HeadquartersNew York, United States
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What WorkMarket does
WorkMarket, founded in 2010 and headquartered in New York, is a cloud-based independent contractor management platform acquired by ADP (Automatic Data Processing) in 2018 and now operating as WorkMarket by ADP. The platform enables businesses to onboard, verify, pay, and manage 1099 workers, freelancers, and other contingent labor through six integrated modules — Onboard & Verify, Pay, Organize Talent (Labor Clouds), Manage Work Assignments, Compliance Support, and Integration & Automation — supported by an Open API, webhooks, a Relay Rules Engine, and a Developer Portal. Adjacent offerings include an IT Field Services Marketplace, iOS and Android mobile applications, and a FastFunds accelerated payment service operated through a partnership with Fifth Third Bank.
The underlying technology stack is a multi-tenant cloud platform with open API architecture and certified integrations to NetSuite (via SuiteScripts and SuiteTalk), Salesforce, Workday, ServiceNow, SAP, Oracle, and Microsoft through a certified MuleSoft connector, plus webhook-based extensibility to Slack, Twilio, and Dropbox. WorkMarket monetizes through transaction-based platform fees per Approved Assignment, optional subscription arrangements for invoiced billing, a 2.5% fee on FastFunds accelerated payments, and pass-through fees for third-party services such as background checks and drug tests. Distribution combines direct enterprise sales, an API-first integration motion for enterprise HR and finance buyers, and self-serve onboarding for SMB and individual contractors. The customer base spans healthcare, staffing, business services, real estate, and IT field services, primarily within the United States.
WorkMarket firmographics
Firmographics- Name
- WorkMarket
- Legal name
- WorkMarket, Inc.
- Website
- https://workmarket.com
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- WorkMarket, an ADP subsidiary founded in 2010, provides a cloud-based platform for onboarding, verifying, paying, and managing independent contractors and freelancers, serving SMB and enterprise clients with integrated compliance, payment, and talent management tools.
- Ownership category
- akta.pro rank
WorkMarket industry classification
Industry- Product category
- Contractor Management Software
- NAICS
- Payroll Services (541214), Employment Services (5613), Temporary Help Services (56132), Custom Computer Programming Services (541511)
- SIC
- Services-Help Supply Services (7363), Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Processing & Data Preparation (7374)
- akta.pro primary industry
- Contractor Payroll, Invoicing & Payment Services (BPACAGAD)
- akta.pro secondary industries
- Time, Expense & Timesheet Management for Contractors (BPACAGAK), Contractor / Freelancer Payments (FSAMAKAC), Human Capital Management (HCM) & Payroll Platforms (HDAEAEAJ), Payroll Software & Payroll-as-a-Service (SaaS) (BPACAIAB)
Keywords
Where WorkMarket is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
WorkMarket business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure, Others
Revenue model
- Platform Fees: Transaction-based platform fees charged to clients for each Approved Assignment and Other Worker Payment. Fees are separate from and in addition to the Assignment Value paid to independent workers. Standard platform fees plus optional 1099 preparation services at additional cost.
- Subscription Fees: Subscription-based pricing model available for clients (referred to as 'subscription Clients') with invoiced platform fees rather than transactional billing. Combines with transaction fees for hybrid revenue approach.
- FastFunds Early Payment: 2.5% fee charged to independent workers who elect accelerated payment through the FastFunds service for faster access to funds from approved assignments.
- Third-Party Services: Revenue from facilitating third-party services including background checks, drug tests, and insurance offered to contractors, with potential credit card processing fees charged to users.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Quote-based enterprise pricing |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels6 records
WorkMarket product offering
Product offeringCore offering
WorkMarket provides a cloud-based end-to-end independent contractor management platform that enables businesses to onboard, verify, pay, and manage 1099 workers, freelancers, and contractors from a single system. The platform offers modular features including automated onboarding and qualification verification, flexible payment processing (ACH, pay card, international, and FastFunds accelerated payments), Labor Clouds for organizing pre-vetted talent pools, work assignment management with mobile support, tax compliance and 1099-NEC filing, and open API integration with ERP/CRM/HRIS systems via a certified MuleSoft Connector.
Product overview
WorkMarket is an end-to-end independent contractor management system and platform acquired by ADP. The core WorkMarket Platform serves as the central system for managing the entire contractor lifecycle, supported by six integrated feature modules: Onboard & Verify (automated qualification and onboarding), Pay (flexible payment including FastFunds accelerated payments), Organize Talent (Labor Clouds for pre-vetted talent pools), Manage Work Assignments (with mobile app support), Compliance Support (tax filing and audit trails), and Integration & Automation (Open API and Relay Rules Engine). The platform includes a specialized IT Field Services Marketplace for matching IT contractors with service opportunities, and a Developer Portal offering an Employer API with webhook capabilities for integrations with enterprise systems including NetSuite, Salesforce, ServiceNow, and MuleSoft. The modular architecture allows businesses to use individual capabilities or the complete end-to-end solution.
Differentiator
Problem solved
Functional benefit
Products and services
- WorkMarket Platform An end-to-end cloud-based independent contractor management platform that enables businesses to onboard, verify, pay, and manage 1099 workers, freelancers, and contractors from a single system, with modular features for compliance and work assignment management.
- IT Field Services Marketplace
Quantifiable outcome
- 91% reduction in time per dispatch
Companies that use WorkMarket
Customer profileNamed customers7 records
Segments11 records
Ideal customer profiles2 records
WorkMarket technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration12 records
Feature9 records
WorkMarket partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core.
- Fifth Third BankcoreFifth Third Bank partners with WorkMarket to provide FastFunds accelerated payment service, enabling independent workers to receive faster payment for approved assignments by selling their receivables to the bank. WorkMarket charges 2.5% FastFunds fee. The bank handles payment processing and collection from clients.
- SalesforcecoreWorkMarket has a certified connector integration with Salesforce enabling enterprise workforce applications and workflow automation through MuleSoft's integration platform.
- WorkdaycoreWorkMarket integrates with Workday through MuleSoft connector enabling bidirectional data flow for workforce management and contractor engagement.
- NetSuitecoreNetSuite integration uses SuiteScripts for capturing updates and SuiteTalk API for bidirectional data flow. Custom callout buttons enable 'Send to WorkMarket' functionality within NetSuite interface.
- MuleSoftcoreWorkMarket has a Certified MuleSoft Connector enabling integration with wide array of systems through MuleSoft's integration platform. The connector supports workflow automation across enterprise applications.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
WorkMarket competitors and assessment
Company assessmentDirect peers
- Workday VNDLY: Workday's contingent workforce management solution offering similar functionality around contractor sourcing, onboarding, and management. Directly comparable as an enterprise-grade VMS competitor targeting the same buyer profile within the Workday ecosystem.
- SAP Fieldglass: Market-leading vendor management system (VMS) for contingent workforce and services procurement. Directly comparable as an enterprise VMS competitor with overlapping customer base, deep ERP integration, and similar feature scope in contractor lifecycle management.
- Magnit (formerly IQNavigator): Leading contingent workforce management platform serving large enterprises with similar functionality around contractor engagement, compliance, and analytics. Directly comparable as a VMS competitor targeting enterprise buyers managing large 1099 workforces.
- Beeline: Contingent workforce management platform offering VMS, MSP, and direct sourcing solutions for enterprise clients. Directly comparable in product scope (sourcing, onboarding, compliance) and target market of large organizations managing contractor populations.
- Deel: Global contractor management and EOR platform with strong focus on international payments and compliance. Directly comparable as a modern contractor management platform; contrasts with WorkMarket's US-only geographic constraint.
- Remote: Global contractor management and EOR platform with international payment rails. Directly comparable as a contractor management peer; competes for the same buyer use case but with global geographic reach that WorkMarket lacks.
Broad incumbents
- WorkForce Software: ADP sister company (also acquired by ADP) focused on workforce management, time, and attendance. Adjacent rather than directly competitive, but represents the same broader contingent/time workforce management category within ADP's portfolio.
- ADP TotalSource / RUN: ADP's flagship HCM and payroll platforms which include elements of contractor administration. Represents the parent company's broader portfolio that WorkMarket complements or potentially competes against internally within ADP.
Emerging players
- Upwork: Online freelancer marketplace connecting businesses with independent contractors. Comparable in addressing the contractor engagement use case but differs in operating an open marketplace model rather than an enterprise SaaS platform; overlaps with WorkMarket's IT Field Services marketplace element.
Others
- Bill.com: Accounts payable and contractor payment automation platform. Compares as an adjacent payment processing provider that handles contractor and freelancer disbursements; partial feature overlap with WorkMarket's Pay module and FastFunds.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
WorkMarket social profiles
Digital presenceWorkMarket compliance and trust
Trust signalCompliance2 records
WorkMarket financial estimates
Financial estimateRevenue estimate
Valuation estimate
WorkMarket leadership team
Management profileNumber of profiles
Profiles5 records
WorkMarket funding detail
Funding detailFunding overview
Funding rounds5 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
WorkMarket M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about WorkMarket
What does WorkMarket do?
WorkMarket provides a cloud-based end-to-end independent contractor management platform that enables businesses to onboard, verify, pay, and manage 1099 workers, freelancers, and contractors from a single system. The platform offers modular features including automated onboarding and qualification verification, flexible payment processing (ACH, pay card, international, and FastFunds accelerated payments), Labor Clouds for organizing pre-vetted talent pools, work assignment management with mobile support, tax compliance and 1099-NEC filing, and open API integration with ERP/CRM/HRIS systems via a certified MuleSoft Connector.
Is WorkMarket a public or private company?
WorkMarket is a private company. It is classified as corporate owned and is currently operating.
When was WorkMarket founded?
WorkMarket was founded in 2010. It employs 101 to 250 people.
Where is WorkMarket based?
WorkMarket is headquartered in New York, United States, in the North America region.
How does WorkMarket make money?
Four revenue lines are on record. Platform Fees are the primary driver. The others are subscription Fees, fastFunds Early Payment and third-Party Services.
Who are WorkMarket's main competitors?
Direct peers on record are Workday VNDLY, SAP Fieldglass, Magnit (formerly IQNavigator), Beeline, Deel and Remote. Broad incumbents are WorkForce Software and ADP TotalSource / RUN. Upwork is listed as an emerging player. Bill.com is listed as an others.
Does WorkMarket have an API?
Yes. WorkMarket offers an Open API that allows developers to integrate with most existing systems including accounting software, CRM, and beyond. The API supports CRUD operations for managing work assignments, contractors, and payments. The Developer Portal provides access to Employer API documentation, Webhooks for event-driven integrations (with examples for Dropbox sync, Slack notifications, and Twilio SMS), Relay connectors for workflow automation, and Rules Engine for custom automation logic. Developer documentation is at developer.workmarket.com.
What industry is WorkMarket in?
WorkMarket's product category is Contractor Management Software. Its primary akta.pro industry code is BPACAGAD, Contractor Payroll, Invoicing & Payment Services, with a secondary code of BPACAGAK, Time, Expense & Timesheet Management for Contractors. Its NAICS code is 541214 and its SIC code is 7363.