PayPal co-founder Peter Thiel leads $3.5m Lystable investment
Billionaire entrepeneur has increased his stake in the London start-up which helps businesses manage their external workforce
Enterprise platform Lystable has brought its total seed investment to $3.5m in a second funding round with an increased stake from PayPal co-founder Peter Thiel’s Valar Ventures and new investor Toba Capital.
Founded in 2014 by former Google designer Peter Johnston, the London-based company helps big businesses communicate with, manage and pay their freelance workforce and external service providers.
In the last year Lystable has secured clients across several sectors including publishing, e-commerce and online travel, grown its London team to 18 and launched an office in San Francisco.
The investment will help the platform build its product team, with 12 more positions currently being recruited for, and accelerate its growth ambitions.
Johnston commented: “Thousands of hours are wasted using a combination of platforms and tools that are individually incomplete and don’t work well together. Lystable brings all of the required resources into a single place.
“The Toba Capital team have a wealth of experience, and we’re excited to be working with them. Expanding the investor base and bringing in a few more dollars marks an important step forward for Lystable as we continue to expand our team and scale internationally.”