Investing in FreelanceDiary – details for our investment network

Summary

We are a team of former freelancers and talent managers who found traditional hiring and management methods to be outdated and ineffective.

Contacting freelancers individually by phone and email to confirm availability, negotiate rates and make bookings can be a slow, frustrating process, particularly as freelancers are hard-to-reach while focused on their work. If unsuccessful, finding new freelancers by searching the pages of unsuitable applications that job-sites churn out or engaging middle-men can be just as taxing and expensive, as is confirming changes and managing freelance teams throughout the entirety of the project.

There has to be a better way, one that meets the immediate, frequent and multi-skilled requirements of freelance work.

We designed FreelanceDiary to provide a dynamic, new way for companies to engage their existing freelance workforce, discover and directly hire great, new talent, build formidable teams and effectively manage ongoing bookings. It’s a sophisticated, fully-integrated freelancer booking management application that meets the immediate and evolving needs of a diverse, on-demand workplace.

Discover how we #MakeFreelanceWork at FreelanceDiary.com

The Market

The freelance workforce is growing three times faster than the traditional workforce. Between 2008-2016, freelancers in the UK increased by 43% and contributed £119 billion to the UK economy. In the US, there are 57.3 million freelancers, 50% of millennial workers are already freelancing and 50.9% of the US population will be freelance in ten years.

Our initial target market is the creative economy, where nearly half of professionals are freelance and many of the remaining 50% hire freelancers. The creative economy employs 40 million people worldwide, and generates $2.25 trillion in revenue, making it larger than the automotive, life sciences, aerospace, oil and gas sectors combined. 

The Founder

Frustrated with the outdated, entrenched hiring practices and behaviours within his industry, award-winning freelance producer and director of photography, Richard Jeffs, designed a platform that provides a dynamic, new way to hire and engage.

Competitors

Job sites, such as Freelancer, UpWork and PeoplePerHour, exclusively focus on the finding and hiring of new freelancers. Unlike FreelanceDiary, job sites do not address inefficiencies in the first, most important and poorly supported area of the booking process, the hiring and management of an existing freelancer workforce.

Job sites use an antiquated job-posting model, which is too slow and often ineffective for the nature of freelance work. Searching and applying for jobs is labour-intensive and not always possible for busy freelancers, and the best, in-demand talent generally rely on clients contacting them for work. This results in shallow talent pools for even the most popular job sites.

While the job-posting model may be suitable for the permanent staffing market, project-based work requires freelancers urgently, frequently and with a range of specialist skill-sets. Posting a job and reading through pages of unsuitable applications while waiting for the right freelancer to spot the advert and apply is time-consuming and costly. A poor experience discourages many established companies from posting jobs. This leaves many low-paid job posts, which further discourages freelancers.

Our Story

We had initially released FreelanceDiary to be a superior solution to the existing job site model. There was no job posting, just fast, direct booking.

Feedback from users and prominent industry companies helped us identify how our technology would be better used to meet their needs. We pivoted our model to enable members to harness the full potential of their existing freelance contacts. We also optimised our business model for product market fit.

We are now raising the equity funding, which will finance our next twelve-month product development and growth.

To find out more about investment opportunities, please contact Richard Jeffs at richard@freelancediary.com for a copy of our pitch deck.

©FreelanceDiary 2018.

Last Round’s Pitch

To find out what initially motivated Richard Jeffs to create FreelanceDiary, please watch our previous round’s pitch video:

Written by Richard Jeffs
Former freelance shooting producer/director and now founder of FreelanceDiary.com. Frustration with the freelancer booking model drove me to find a dynamic, new way to hire, manage and engage.