HourlyNerd, an online marketplace that connects MBA alumni and students with small businesses for consulting work, raised a $4 million Series A from Highland Capital Partners and Greylock Partners. Dan Nova, general partner at Highland Capital Partners, will join HourlyNerd’s board of directors.
The startup had previously raised a $750k Seed Round from Marc Cuban and other angel investors. The funding will be used to further develop the platform and expand the tech team.
Since its launch in 2013 at Harvard Business School, HourlyNerd has connected more than 4000 MBAs with more than 2500 companies. HourlyNerd’s service is mostly used to evaluate M&A opportunities, craft strategy and marketing and handle other projects when a permanent hire doesn’t make sense according to the WSJ.
Among MBA alumni and students a growing group on the platform are women who work for consulting firms like Mckinsey but take a break to raise their children. The hourly rates on the marketplace range from $25 to $150. HourlyNerd takes 15% commission but absorbs the 3% transaction fee.
HourlyNerd partnered with Microsoft in December to provide its services to Microsoft’s small and medium-sized business partners.
- Renting Harvard MBAs to Big Biz, HourlyNerd Raises $4M and Targets ‘McKinsey Moms’ | WSJ
- HourlyNerd raises Series A funding to grow its MBA rental service | Boston Herald
- Mark Cuban-backed HourlyNerd raises Series A investment from two Mass. VC firms | Boston Business Journal