Name: Liquid Inc
Legal Name: Liquid, Inc.
Location: Los Angeles, CA
Founder(s): Saujin Yi
Industry: USA Gig Economy Size
Size: $1.28T in 2018 (Source: Forbes)
Liquid Inc was built to help firms streamline the onboarding, management, and payment of their vendors and gig workers. This SaaS tool seeks to help enterprises save cost and time, by simplifying the transition from traditional to a more ’liquid’ workforce model.
Liquid is a SaaS tool that allows enterprises to track and manage every aspect of projects to ensure minimum disruption in the workflow. And since it stores all the employee and project information in one place, Liquid enables users to access these files easily.
On the finance side, the platform not only automates the verification of invoices but also helps check for unintended overbilling. Liquid also integrates smoothly with the firm’s legacy accounting systems to sync all project and payment data.
To invite and engage with new hires, the project management platform lets users harness smart onboarding templates and standardized processes.
At the time this feature was penned, Liquid was operating in beta testing mode.
Origin and Founding Team
Even before Liquid, Saujin Yi (MBA from the University of California) has been a believer in the sheer potential of the growing gig economy. That’s why, in 2016, she set up FlexTeam – a project-based consulting company that empowers women to work flexible schedules. When she tried to scale this firm, Yi noted that it was very difficult to find a single HR and finance platform that could help manage these freelancers.
This inspired Yi to build such an all-in-one solution for FlexTeam. The in-house software received so many positive reviews that she decided to make it accessible to other organizations, by setting up a SaaS firm called Liquid Inc.
Performance and Trends
According to LA Biz Journal, in July 2019, Liquid was selected to be part of the Techstars accelerator program. And from this initiative, the startup received a $100,000 convertible note, along with additional sum of $20,000.
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