ConceptDrop Raises $1.1 M for Enterprise Marketing Marketplace

ConceptDrop, a Chicago-based startup that matches enterprises with freelancers for design and marketing projects, announced yesterday that it has secured $1.1 million dollars in seed funding. Financing for the project, which includes investment from 500 Startups, Fulcrum Investing and individual angels, is led by Chicago-based seed-stage firm Network Ventures, which was created by Former Pritzker Group venture capitalist Jeff Maters.

ConceptDrop is one of a number of startups to capitalize on the rapid growth of the freelance economy. In May 2015, 15 million people in the U.S. reported being self-employed, with many of them finding employment through online sources. ConceptDrop founder and CEO Phil Alexander has built his business on the premise of the industry’s continued growth, not just among freelancers but for large companies. “There’s a big trend towards the freelancer economy, and ConceptDrop helps enterprises leverage that talent,” said Alexander. “Our platform provides customers access to top-notch professionals at a fraction of the cost of hiring and managing on their own.”

Concept Drop’s website positions the company as a resource for “small businesses and Fortune 500 companies alike.” Larger clients include Google, Wrigley and Expedia. ConceptDrop was recently accepted into the 500 Startups Accelerator in Mountain View, CA. The company plans to use the new capital to accelerate customer growth and complete technology integrations that will seamlessly match businesses with freelancers. ConceptDrop has also partnered with Microsoft and plans to unveil its first integration for Office 365 next month.