HourlyNerd

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HourlyNerd
Private
Industry Consulting
Founded Boston, Massachusetts (February 2013 (2013-02))
Founder Rob Biederman
Peter Maglathlin
Joe Miller
Patrick Petitti
Defunct 2016 (2016)
Website http://www.hourlynerd.com/

HourlyNerd was a global online marketplace that connected companies of varying sizes with over 25,000 independent business consultants for project-based work. HourlyNerd was based in Boston, Massachusetts. As of July 26, 2016, HourlyNerd rebranded as Catalant.[1][2]

Description[edit]

The HourlyNerd platform enabled clients to post projects, receive bids, interview and select experts, track projects, and make payment all in the same place.[3]

HourlyNerd’s clients ranged from startups and small business to large enterprises including GE, Microsoft, American Apparel, and Staples.[4] As of 2016, HourlyNerd served 10% of the Fortune 1000 companies.[5]

History[edit]

HourlyNerd launched in 2013 as part of Harvard Business School's Field III course.[6][7]

In September 2013, HourlyNerd received $750,000 in seed money led by Mark Cuban.[8]

In March 2014, HourlyNerd announced its Series A financing round, led by Highland Capital Partners and Greylock Partners.[9][10]

In February 2015, HourlyNerd announced that it had raised $7.8MM in Series B funding, led by Highland Capital Partners, with participation from GE Ventures, Greylock Partners, Intuit founder Scott Cook, the Kraft Group, angel investor Semil Shah, former Etsy CEO Maria Thomas, Rent the Runway Founder/CEO Jennifer Hyman and Boston VC Suffolk Equity Partners.[11]

In 2016, HourlyNerd's online marketplace included 17,500 freelance consultants and a couple hundred boutique consulting firms.[5]

In 2016, HourlyNerd announced a $22 million Series C round led by General Catalyst Partners with participation from Highland Capital Partners, GE Ventures, Mark Cuban, Greylock Partners and Bob Doris of Accanto Partners.[12]

Further reading[edit]

  • Avery, Jill; Fuller, Joseph B. (January 2016). "HourlyNerd". Harvard Business School Case. 316 (134).

References[edit]

  1. ^ Kauflin, Jeff. "Exclusive: Consulting Matchmaker Catalant Lands $41 Million In New Funding". Forbes. Retrieved 2018-03-13.
  2. ^ Inc., Catalant Technologies,. "HourlyNerd Rebrands as Catalant". www.prnewswire.com. Retrieved 2018-03-21.
  3. ^ "Uber for MBAs is a worrying sign for knowledge workers everywhere - The Boston Globe". BostonGlobe.com. Retrieved 2016-06-09.
  4. ^ Ravindranath, Mohana (2013-12-03). "Microsoft, Harvard start-up HourlyNerd partner to help small IT businesses". Washington Post. ISSN 0190-8286. Retrieved 2018-04-05.
  5. ^ a b "How HourlyNerd Is Leading the 'Uber Economy' in Boston". BostInno. Retrieved 2016-06-09.
  6. ^ College Startup: Rend a Nerd with HourlyNerd, "Archived copy". Archived from the original on 2014-02-22. Retrieved 2014-05-23.
  7. ^ "HourlyNerd Raises Series B Investment". MarketWatch. Retrieved 2018-04-05.
  8. ^ Alden, William. "Mark Cuban Invests in Start-Up to Connect Companies to M.B.A.'s". DealBook. Retrieved 2018-04-05.
  9. ^ "Mark Cuban-backed HourlyNerd raises funding from Highland & Greylock". Retrieved 2018-04-05.
  10. ^ Chapman, Lizette (2014-03-26). "Renting Harvard MBAs to Big Biz, HourlyNerd Raises $4M and Targets 'McKinsey Moms'". WSJ. Retrieved 2018-04-05.
  11. ^ Alspach, Kyle (February 4, 2015). "HourlyNerd Raises $7.8M for Its Consulting Gig Marketplace". Bostinno.
  12. ^ Miller, Ron. "On-demand staffing startup HourlyNerd lands $22 million Series C". TechCrunch. Retrieved 2018-01-31.