TransparentBusiness Valuation, Funding & Investors
TransparentBusiness is valued at $1B as of December 2020.
Last TransparentBusiness valuation
$1B
Pre-seed · Dec 2020
Last TransparentBusiness funding round
$900K
Seed · May 2024
Cumulative funding TransparentBusiness raised
$49M
across 10 funding rounds
Key investors in TransparentBusiness
Wayra
Telefónica
About TransparentBusiness
TransparentBusiness is a New York software and operating holding company incorporated in Delaware in 2015. Its original cloud platform helps organisations coordinate remote and on-site employees by recording work activity, project status, billable time and cost information. The product also provides project collaboration, communication, performance monitoring and workforce accountability tools for small and medium-sized businesses. The group added talent services through SheWorks and Yandiki, a controlling interest in staffing agency ITSQuest and a majority stake in the Unicorn Hunters media producer Unicorns. TransparentBusiness changed its corporate name to Unicoin in October 2022 while expanding into digital assets and media. In April 2026 the same legal company changed its name back to TransparentBusiness and continued operating software, talent and media interests. It earns subscription and service revenue from business and public-sector customers using its workforce and talent platforms.
Founded
2015
HQ
New York City, NYWebsite
Status
Privately held
Customer focus
B2B & B2G
Revenue model
Subscription, Services
Valuation
$1B (Dec 2020)
TransparentBusiness Valuation
TransparentBusiness is currently valued at $1B, based on its pre-seed round in December 2020.
TransparentBusiness' valuation has grown 59x from $17M at its seed round in September 2017 to $1B in December 2020, across 6 priced rounds.
TransparentBusiness valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Dec 2020 | Pre-seed | $1B |
| Oct 2020 | Pre-seed | $1B |
| Aug 2020 | Pre-seed | $152M |
| May 2020 | Pre-seed | $75M |
| Aug 2018 | Pre-seed | $100M |
| Sep 2017 | Seed | $17M |
TransparentBusiness Funding History
TransparentBusiness has raised a total of $49M across 10 funding rounds.
TransparentBusiness' first fundraising round was a $2M seed round in September 2017. The most recent completed round was a $900K seed round in May 2024.
TransparentBusiness funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2024 | Seed | - | $900K | - | - |
| Apr 2021 | Pre-seed | - | $4M | - | - |
| Dec 2020 | Pre-seed | - | $20M | $1B | TransparentBusiness is a SaaS platform that provides remote workforce management and productivity monitoring solutions for enterprises and freelancers. Founded in 2008 and headquartered in New York, the company helps clients increase freelancer productivity, prevent overbilling, coordinate and monitor their workforce, and gain real-time visibility into task and project costs and status. On October 6, 2020, TransparentBusiness announced it had achieved unicorn status with a $1 billion post-money valuation through its Global Private Offering, pricing shares at $1 per share with one billion authorized shares. The company had raised more than $20 million cumulatively through this offering round. TransparentBusiness was recognized by Citigroup as the top people management solution in its category. The company distinguished itself as the first pink unicorn to overcome gender bias in venture capital financing, as it was co-founded by female co-founder Silvina Moschini alongside Alex Konanykhin. The Board of Directors set an ambitious objective to achieve decacorn status ($10 billion valuation) by the end of 2021. TransparentBusiness owns two operating platforms, SheWorks! (a talent pool connecting professional women with job opportunities) and Yandiki, as part of its broader ecosystem. |
| Oct 2020 | Pre-seed | - | $8M | $1B | TransparentBusiness is a SaaS platform for remote workforce management, designated by Citigroup as the top people management solution, facilitating transparent oversight of remote workers to boost productivity in work-from-home environments. Co-founded by Silvina Moschini and Alex Konanykhin, the company also operates SheWorks!, a talent pool connecting professional women with opportunities, which won the Equals in Tech award in 2019. On October 6, 2020, TransparentBusiness opened a new global private offering at a de-facto post-money valuation of $1 billion ($1 per share with one billion authorized shares), achieving unicorn status as one of 488 such companies worldwide and becoming the first 'pink unicorn' overcoming gender bias in VC funding. The company had raised more than $20 million through this offering by then, with investors including executives from Telefonica, Morgan Stanley, Goldman Sachs, Citigroup, and others. Earlier rounds included a February 2020 raise bringing total funding over $6 million via an Initial Private Offering advertised in major financial media. The board set a goal of $10 billion decahorn valuation by end of 2021, aiming to dominate business transparency and remote workforce management like Zoom and Salesforce. In 2020, TransparentBusiness raised $19,589 thousand across series of funding rounds and acquired 51% of staffing agency ITSQuest in November 2020. |
| Aug 2020 | Pre-seed | - | $5M | - | TransparentBusiness is an enterprise software company offering SaaS platform for remote workforce management, productivity monitoring, task management, and compliance. The company provides workflow automation, integrations with enterprise SaaS ecosystems, and AI analytics for hybrid and remote work insights. Key investors include Wayra and Goldman Sachs. TransparentBusiness raised total funding of approximately $9.13M to $20M across multiple rounds, including Series A rounds in February 2022 ($7.33M) and April 2023 ($1.54M), debt in June 2021 ($346K), and earlier rounds around 2020 such as on February 3, 2020 and May 3, 2020. Sources report valuations of $1B as of October 2020 and $140M associated with the May 2020 round, with unicorn status noted amid COVID tech boom. The company participated in Google for Startups Accelerator and plans enterprise expansion, with latest funding in 2024 ($0.86M unattributed). |
| Aug 2020 | Pre-seed | Telefónica | $2M | $152M | - |
| May 2020 | Pre-seed | Wayra | $5M | $75M | TransparentBusiness raised funding in a round on May 3, 2020, described as undisclosed. The company has completed four funding rounds overall. TransparentBusiness opened a third round of financing on May 4, 2020, having raised $6M across its first two rounds previously. |
| Jan 2019 | Undisclosed stage | Wayra | - | - | Wayra's official 2019 investment review identifies TransparentBusiness among the companies it invested in during 2019. TransparentBusiness provided cloud software for managing distributed teams, assignments, time, productivity and accountability across remote workforces. Wayra presents the investment as part of its strategy of backing technology companies that can scale through commercial work with Telefónica and its customers. The review gives EUR 1.4 million for all nine companies and an average ticket, neither of which is assigned to this company. The source also gives no conventional round label for this company, which supports an early financing classification with stage left unspecified. |
| Aug 2018 | Pre-seed | - | $4M | $100M | TransparentBusiness raised a $2 million Seed round in January 2018 at a $100M valuation according to Wellfound. The company, co-founded by Silvina Moschini and Alex Konanykhin, provides a SaaS platform for remote workforce management and transparent business operations. It also owns SheWorks!, a talent platform connecting professional women with jobs. In 2019, TransparentBusiness completed a $4 million Series A at $100M valuation. By October 2020, it opened a new investment round at $1 billion valuation, achieving unicorn status after raising over $20 million through its global private offering. The platform saw increased demand during the COVID-19 pandemic for remote work tools. |
| Sep 2017 | Seed | - | $2M | $17M | - |
Who has invested in TransparentBusiness?
2 investors have backed TransparentBusiness across its funding rounds, including Wayra and Telefónica.
TransparentBusiness Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by TransparentBusiness
TransparentBusiness has acquired 3 companies to date.
Last acquisition by TransparentBusiness was on June 23rd 2025. TransparentBusiness acquired Diamond Lake Minerals for $137M.
Latest Acquisitions by TransparentBusiness
| Description | Diamond Lake Minerals Inc specializes in the development and support of digital assets and SEC-registered security tokens. Its goal is to responsibly innovate and develop valuable traditional businesses and successfully combine them with the future of money, and digital assets through its operating subsidiary. | Unicorns is a Nevada media-production company that produces the Unicorn Hunters business and investing programme. Alex Konanykhin founded the company and developed the show with an on-screen panel of entrepreneurs, investors and public figures. The programme presents private growth companies to a global audience through streamed episodes and invites viewers to assess investment opportunities. Its distribution has included the Unicorn Hunters website and online video channels, with the first episode released in May 2021. The company serves participating businesses seeking publicity and capital access as well as viewers interested in private-company investing. Its operating model combines media production, audience development, promotional services and potential equity interests obtained from companies appearing on the programme. TransparentBusiness obtained a 66.67% controlling interest in April 2021 and has consolidated Unicorns since that transaction. | ITSQuest is a professional staffing and human-resources outsourcing company headquartered in Lubbock, Texas. The business was organized in New Mexico in 1994 as Haldeman and Hoogestraat and adopted the ITSQuest name in 2002. It recruits and employs personnel for commercial customers and government bodies across New Mexico and West Texas. Its services cover candidate assessment, screening, testing, vetting, training, recruiting, temporary staffing and contract project management. The company supplies clerical, light-industrial, professional and technical, skilled-trades, hospitality, food-service and medical workers. At the time of its 2020 acquisition, ITSQuest operated twelve branches across New Mexico and Texas, a footprint it continues to maintain. Customers pay for the placed employees' wages and benefits together with staffing service fees, making the business a service-based workforce provider rather than a software vendor. |
| HQ Country | | | |
| HQ City | - | Reno, NV | Lubbock, TX |
| Deal Date | 23 Jun 2025 | 8 Apr 2021 | 30 Nov 2020 |
| Valuation | $137M | undisclosed | $4M |
| EV/Revenue | |||
| EV/EBITDA | |||
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TransparentBusiness Competitors
TransparentBusiness competitors include listed companies like ATOSS Software and Freee, and private ones like Fountain, Gem, Sense and Assembled.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | - | - | $950M | - | |
| San Francisco, CA | Private | - | - | $1.2B | - | |
| San Francisco, CA | Private | - | - | $500M | - | |
| San Francisco, CA | Private | - | - | $1B | - | |
 Germany | Publicly listed | $212M | $82M | $1.7B | 6.6x | |
 Japan | Publicly listed | $269M | $15M | $1.7B | 5.5x |
TransparentBusiness Public Comps
TransparentBusiness is still privately-owned, but its public comps include McMillan Shakespeare, Kforce, Timee, FESCO Group, Open Up Group, JAC Recruitment, Michael Page, Harmonic, UT Group and Tanla Platforms.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $332M | $177M | 4.5x | 3.5x | 8.6x | 11.6x | |||
| $1.3B | $52M | 0.9x | 0.8x | 21.9x | 13.7x | |||
| $132M | $23M | 7.0x | 3.0x | 40.1x | 15.0x | |||
| $6.8B | $298M | 0.0x | 0.0x | 0.4x | 0.8x | |||
| $1.1B | $122M | 0.9x | 0.9x | 8.1x | 8.1x | |||
| $292M | $76M | 3.3x | 2.9x | 12.7x | 10.8x | |||
| $2.1B | $105M | 0.5x | 0.5x | 10.3x | 9.3x | |||
| $361M | $24M | 2.8x | 2.1x | 42.7x | 10.2x | |||
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Common questions about TransparentBusiness
| When was TransparentBusiness founded? | TransparentBusiness was founded in 2015. |
| Where is TransparentBusiness headquartered? | TransparentBusiness is headquartered in New York City, NY, United States. |
| Is TransparentBusiness publicly listed? | No, TransparentBusiness is a private, VC-backed company. |
| What is TransparentBusiness' valuation? | TransparentBusiness was last valued at $1B in its pre-seed round in December 2020. |
| How much funding has TransparentBusiness raised? | TransparentBusiness has raised $49M across 10 funding rounds. |
| What was TransparentBusiness' last funding round? | TransparentBusiness' last funding round was a $900K seed round in May 2024. |
| Who are TransparentBusiness' investors? | TransparentBusiness' investors include Wayra and Telefónica. |
| Which companies are comparable to TransparentBusiness? | Companies comparable to TransparentBusiness include Fountain, Gem, Sense, Assembled, ATOSS Software and Freee. |
| How many companies has TransparentBusiness acquired? | TransparentBusiness has acquired 3 companies, including Diamond Lake Minerals, Unicorns and ITSQuest. |
| What was the largest acquisition by TransparentBusiness? | The $137M acquisition of Diamond Lake Minerals in June 2025 is the largest acquisition TransparentBusiness has made to date. |
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