Torchlite Raises $3M to Expand Marketplace of Certified Digital Marketing Experts
New Strategic Funding Round includes Existing Investors and New Institutional Investor
INDIANAPOLIS (October 2, 2018) — Torchlite, the platform for finding and managing on-demand digital marketing talent, announced today it attracted $3 million in funding to expand its tech-enabled network of digital marketing freelancers. The funding round includes funding from existing investors, including Scott McCorkle, a technology investor and advisor, and new investor Salesforce Ventures.
“Torchlite was created to enable every company to unlock the value of its marketing technology by making it simple to manage highly sought after certified freelance digital marketing experts.” said Susan Marshall, Torchlite’s Founder and Chief Executive Officer. “We are excited to welcome Salesforce Ventures as an investor.”
Torchlite’s platform provides large organizations with a private marketplace of pre-approved, on-demand experts, from technical architects to content creators and writers – assembled to meet the needs of the enterprise. By accessing their own network of specialists, businesses can extend their marketing teams, fill critical gaps and transform their digital marketing.
“Torchlite’s on-demand freelance approach empowers us to swiftly flex to meet the demands in our marketplace,” said Carole Casto, Vice President, Marketing and Communications at Cummins Inc. “The ability to access a pre-approved roster of creative experts provides tremendous value as we plan and execute our digital marketing strategy.”
According to Forrester Consulting, 66% of business leaders say that the primary barrier to long term success is talent, and only 3% of marketers feel that they are getting the full value of their marketing technology*.
“As digital marketing becomes increasingly specialized, many companies are turning to on-demand, independent consultants to fill gaps on their teams,” Marshall said.
Edelman Research reports that over half of the workforce is expected to be freelance in the next ten years, and 57% of companies are using freelancers regularly.
Since its launch in late 2015, Torchlite has raised a total of $5.5M, doubled revenue from 2016 to 2017, demonstrating a massive need in the market for certified experts and a more effective way to manage those resources to build complex digital marketing campaigns.
Founded in 2015, Torchlite provides businesses with access to a private marketplace of certified, on-demand digital marketing experts. Torchlite helps enterprise companies fill in critical gaps and transform their digital marketing. With Torchlite’s platform, organizations can easily manage highly sought after freelance experts with a variety of skill sets, from writers to designers to digital strategists and more. Check us out at torchlite.com.
Salesforce is the fastest growing top five enterprise software company and the #1 CRM provider globally. Salesforce Ventures—the company’s corporate investment group—invests in the next generation of enterprise technology that extends the power of the Salesforce Customer Success Platform, helping companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce’s expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 275 enterprise cloud startups in 17 different countries since 2009. For more information, please visit www.salesforce.com/ventures.
*Source: A commissioned study, conducted by Forrester Consulting July, 2017.
** Source: Freelancing in America Survey, 2017