CHICAGO, May 20, 2016 — ConceptDrop, a Chicago-based startup that connects enterprises with freelancers for design and marketing projects, today announced that it has closed $1.1 million in seed funding. The financing is led by Network Ventures, a new Chicago-based seed stage firm created by former Pritzker Group venture capitalist, Jeff Maters. New investors also include 500 Startups, M25 Group, G2T3V, Fulcrum Investing, and angel investors.
ConceptDrop uses algorithmic matching to pair projects with their best-fit freelancer – helping enterprises find curated freelance support in a few clicks. The company is initially focused on marketing collateral and presentation work, but is building a technology platform that will enable enterprises to leverage freelancers for a variety of projects. Notable customers include Google, Wrigley, Expedia and Avnet.
“There’s a big trend toward the freelancer economy, and ConceptDrop helps enterprises leverage that talent,” said Phil Alexander, founder and CEO of ConceptDrop.” Our platform provides customers access to top notch design professionals at a fraction of the cost of hiring and managing on their own.”
ConceptDrop plans to use the capital to accelerate customer growth and continue to build out a set of technology integrations that can match businesses with freelancers seamlessly. ConceptDrop has also partnered with Microsoft and plans to unveil their first integration for Office 365 next month.
“ConceptDrop does great work and has impressive roster of clients ranging from Fortune 500 companies to small agencies and startups,” said Jeff Maters, Managing Director of Network Ventures. “The team has accomplished a lot so far, and I’m excited to see where they can go with this investment.”
The startup is based out of the 1871 tech hub in Chicago and has eight full-time employees. ConceptDrop was recently accepted into the 500 Startups Accelerator in Mountain View, Calif. For more information, go to conceptdrop.com.
