Lystable, a San Francisco, US-based enterprise software for organizations to manage their freelance and vendor workforce, closed an $11m Series A funding.
The round was led by Peter Thiel’s Valar Ventures and Goldcrest Capital with participation from Spring Partners. In conjunction with the funding, James Fitzgerald of Valar Ventures and Leila Zegna of Spring Partners joined Lystable’s board of directors, while Adam Ross of Goldcrest Capital joined as a board observer.
The company intends to use the funds to expand into the US, including growing its San Francisco-based office to 35 people by the end of the year.
Founded in UK by Peter Johnston and Fergus Doyle, Lystable provides a software platform that allows businesses to manage relationships with freelancers, independent contractors and vendors via tools to track all contractor and vendor invoices, build approval flows and distribute payments in over 120 countries, align communication, access to reporting and analytics.
The company has over 60 enterprise clients including Google, The Economist, Airbnb, MTV, and CNBC, among others, managing over 20,000 contractors and vendors on a weekly basis.