Elance, a Mountain View, California and Oslo, Norway-based Internet platform for online employment, has secured $16m in expansion capital.
The round was led by the Stripes Group with participation from existing investors New Enterprise Associates (NEA) and Kleiner Perkins Caufield & Byers.
The company intends to use the funding to continue to innovate and grow.
Led by CEO Fabio Rosati, Elance provides a platform that helps businesses hire and manage in the cloud. It offers access to professionals and the ability to build and manage entire teams online. For independent professionals who want to work online, Elance offers access to qualified clients, and a virtual workplace.
In conjunction with the funding, Dan Marriott, managing partner at Stripes Group, and Paul Hsiao, partner at NEA, have joined Elance’s Board of Directors.