# Upwork

Upwork is an other based in San Francisco, United States.

## Overview

- **Organization type:** other
- **Headquarters:** San Francisco, United States
- **Region:** North America
- **Address:** San Francisco, CA, United States
- **Founded:** 2015
- **Assets under management:** Undisclosed
- **Website:** upwork.com

## Regulatory record

- **Reports private funds:** No

## About

Upwork was formed in 2015 from the merger of Elance and oDesk, two pioneers of the online freelance economy. Hayden Brown, who joined the legacy company in 2014, assumed the CEO role in 2020 and led the firm through a rebranding and a series of operational shifts that repositioned it as an enterprise talent platform. The company goes to market as a Nasdaq-listed entity (ticker: UPWK) rather than a private investment vehicle. The firm's strategy revolves around its two-sided marketplace, which generated approximately $4.1 billion in gross services volume in 2024. Its corporate development activity includes targeted acquisitions that expand its enterprise capabilities, such as the 2025 purchase of ObjectiveHealth, an AI-driven talent-matching startup. Core categories on the platform span technology, marketing, customer service, finance and consulting, linking freelancers in over 180 countries with clients ranging from solo entrepreneurs to Fortune 500 procurement departments. Upwork operates with a workforce of approximately 800 employees and maintains a primary office in San Francisco, with additional hubs in Chicago and international locations. In May 2025, the company announced a strategic partnership with OpenAI to integrate ChatGPT Enterprise directly into the Upwork platform, a move CEO Hayden Brown described as part of a broader push to embed AI into every stage of the talent lifecycle. The company disclosed $769 million in 2024 revenue. What structurally differentiates Upwork from prior talent platforms is its evolution from a pure auction-style job board into an enterprise software company with managed-service, compliance, and AI-native matching layers. Unlike a family office or allocator, its capital deployment flows entirely through M&A and platform R&D, with governance tied to public-market shareholders and a board that includes representatives from large institutional holders such as BlackRock and Vanguard.

## People

- Hayden Brown — President & CEO

## Questions

### Who runs investment and corporate development decisions at Upwork?

Hayden Brown, President and CEO, oversees Upwork's executive strategy, including corporate development and M&A. The company's acquisitions, such as the 2025 purchase of ObjectiveHealth, are evaluated through an internal corporate development function reporting to senior leadership, subject to board approval.

### What revenue scale does Upwork operate at?

Upwork reported $769 million in total revenue for the fiscal year 2024, driven by fees on the $4.1 billion in gross services volume that flowed through its marketplace (per the firm, 2024). Its marketplace connects freelancers and clients across more than 180 countries.

### Does Upwork maintain any fund structures or co-investment vehicles?

No. As a publicly traded corporation, Upwork does not operate fund structures, special purpose vehicles, or co-investment clubs. Its growth is funded through operating cash flow and public equity rather than limited-partner commitments.

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Last updated: 2026-06-03T20:00:00.000Z

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