Workle announced last week it was able to boost its remote workforce by 5.5 times as a result of a 2012 grant from the Skolkovo Foundation, a government-sponsored business development hub near Moscow.
Skolkovo’s initial investment of $780,000 in early 2012 provided Workle with a foundation to quickly accelerate development of its remote desktop products. At the time of the investment, Workle’s net worth was valued at approximately $7.76 million.
“The decision to grant was due [to] the following reasons: First, telecommuting employment– serious global trend in demand in many sectors, from call centers to software development,” Skolkovo Information Technology Fund Manager Igor Bogachyov said. “Secondly, Workle is socially significant for the Russian project– creating a product that will facilitate remote staff recruitment.”
Currently, Workle, which allows users to launch remote internet-based careers, is valued at $40 million, with approximately 500,000 users worldwide. The company has close partnerships with 90 major Russian companies in the fields of tourism, finance, insurance, security and entertainment.
“Today, with the help of Workle, thousands of people across the country can officially earn decent money without having to go every day to the office,” Workle CEO Vladimir Gorbunov said, adding the company plans to add one million users in 2014.