Delhi-based Flexing It, an online marketplace for consultants and on-demand expertise, has raised $500K in an angel round of funding from private investors.
Founded in 2012 by Chandrika Pasricha, Flexing It, is a platform that connects organisations to professionals and expertise on an on-demand basis for projects, consulting assignments, advisory roles and part-time resource needs.
Pasricha’s own stint as an independent consultant led to the inception of entrepreneurial idea Flexing It. The startup is based on the insight that while there are mature freelancing platforms that cater to tech, creative and ‘gig’ spaces, there is a gap when it comes to more mainstream management skills (aka strategy, marketing, finance, HR, product, etc) and knowledge-based projects.
Quick Facts
- It has a community of 12,000+ professionals
- More than two-third professionals are drawn from tier-I institutes like IIMs, ISB, IITs, Harvard & INSEAD
- Out of ⅔, less than 50% bring over a decade of experience
The startup is aiming looking to fill this gap using its curation and proprietary matching algorithm.
According to Pasricha, “Flexing It aims to help professionals craft a great portfolio of work at the pace they want, and help organisations obtain skilled resources for the duration and intensity they need efficiently.”
Currently, over 1000 companies are already leveraging the platform in order to access this curated professional pool for their short-term talent requirements.
With the new round of funding the startup plans to expand its services across India and other geographies where huge demand exists for such services.
The company has also provides background verification options on its platform as a tool for organisations to have greater comfort and confidence while hiring consultants for their projects.
The functionality includes 3 models to organisations for posting assignments – MyFlex Prepaid, MyFlex Postpaid and SuperFlex, keeping in mind the diverse nature of users and types of requirements.
As per Mary Meeker’s Internet Trends Report-2015, it is indicated that 34% of the US workforce is already freelancing and Forbes estimates this number to increase to 50% by 2020, hence, the freelancing and project-based work economy has huge growth potential.
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