WorkMarket

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.

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

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

• Contractor management software
• Freelancer payment solutions
• 1099 workforce compliance
• Talent marketplace platform
• Workforce automation tools

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure, Others

Revenue model

1. 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.
2. 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.
3. 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.
4. 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

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core 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

Named customers7 records

Segments11 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature9 records

Partnerships

Five partnerships are on record, tiered core.

• Fifth Third BankcoreStrategic or Co-development PartnerFifth 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.
• SalesforcecoreTechnology or IntegrationWorkMarket has a certified connector integration with Salesforce enabling enterprise workforce applications and workflow automation through MuleSoft's integration platform.
• WorkdaycoreTechnology or IntegrationWorkMarket integrates with Workday through MuleSoft connector enabling bidirectional data flow for workforce management and contractor engagement.
• NetSuitecoreTechnology or IntegrationNetSuite integration uses SuiteScripts for capturing updates and SuiteTalk API for bidirectional data flow. Custom callout buttons enable 'Send to WorkMarket' functionality within NetSuite interface.
• MuleSoftcoreTechnology or IntegrationWorkMarket 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

Direct 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

• Xx.com/workmarket
• YouTubeyoutube.com/user/WorkMarketInc
• Facebookfacebook.com/WorkMarketHQ
• LinkedInlinkedin.com/company/work-market

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds5 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about WorkMarket