Toptal

Toptal is a global remote company that provides a freelancing platform that connects businesses with software engineers, designers, and business consultants. The company has no headquarters.[1]

Toptal
Private
IndustryFreelance
Founded2010 (2010)
FoundersTaso Du Val
Breanden Beneschott
Headquarters
Silicon Valley 
Area served
Worldwide
Key people
Taso Du Val (CEO)
Websitewww.toptal.com

History

Taso Du Val and Breanden Beneschott founded the company in 2010. Du Val was previously an engineer at Fotolog and Slide.com[2][3] while Beneschott was an undergraduate at Princeton University.[4] The name stands for "top talent", and it was started as a virtual company with no dedicated offices.[5][6]

Toptal had more than $1 million in revenue by the time Beneschott graduated from Princeton.[4] The co-founders moved to Budapest, Hungary to access software developers with fewer employment options than in the United States.[4]

Talent search and growth

The firm developed personality, language, and skills testing to remotely screen engineering candidates, and accepted the top 3% of several thousand monthly applicants.[2][3][7]

The firm matches business engagements with developers from its network and brokers the terms of each job.[3] In 2015, it expanded to include freelance design.[8] In 2016, it acquired the freelancer platform, Skillbridge, which offered freelance accountants, statisticians, and consultants in market research, financial modeling, and due diligence.[9] In 2017, the company launched a vertical specializing in software engineers and designers for the automotive industry.[10] It also launched a vertical for blockchain engineers in February 2018.[11]

Funding

Toptal accepted a $1.4 million seed round of financing from Andreessen Horowitz and angel investors including Quora founder Adam D'Angelo.[8] The company is said not to have raised additional funds since its seed round because it has been profitable.[8] In 2015 and 2016, their annual revenue was $80 million and $100 million respectively.[3][4]

References
  1. "Toptal". Remote.co. 2020-02-07. Retrieved 2020-02-16.
  2. Soshana, Solomon (19 March 2017). "Dropout turned entrepreneur helps find talent amid engineer squeeze". The Times of Israel. Retrieved 2018-07-02.
  3. Ankeny, Jason (8 September 2015). "Why a High School Dropout's Staffing Company Is in a Class of Its Own". Entrepreneur Magazine. Retrieved 2018-07-02.
  4. Hartmans, Avery (17 September 2016). "This startup has no offices and unlimited vacation, and its cofounder has lived in more than 30 countries in 5 years". Business Insider. Retrieved 2018-07-02.
  5. Rockwood, Kate (26 October 2017). "How to Build a $100 Million-Revenue Business With Zero Offices". Inc. Magazine. Retrieved 2018-07-02.
  6. Caminiti, Susan (3 April 2018). "The dream job that's all the rage across America". CNBC. Retrieved 2018-07-02.
  7. Lagorio-Chafkin, Christine (5 November 2014). "How To Build A Killer Team--Sight Unseen". Inc. Magazine. Retrieved 2018-07-02.
  8. Constine, Josh (7 October 2015). "Massive Freelance Engineer Marketplace Toptal Now Sells Designers". TechCrunch. Retrieved 2018-07-02.
  9. Taft, Darryl (6 April 2016). "Toptal Buys Skillbridge to Advance Freelance Tech Market". eWEEK. Retrieved 2018-07-02.
  10. Winter, Drew (28 November 2017). "Supplier Toptal to Fill 'Extreme High-Skilled Talent Gap'". WardsAuto. Retrieved 2018-07-02.
  11. Stein, Samantha (14 February 2018). "Blockchain engineers are in demand". TechCrunch. Retrieved 2018-07-02.
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