Upwork Revenue and Usage Stats (2024)

Goutham JayGoutham Jay·
Mar 1, 2024

Upwork is one of the top freelance marketplaces where businesses connect with independent professionals and agencies

Upwork was the joint product launched in 2015 after the merger of Elance and ODesk on December 18, 2013

Here's 2024's up-to-date statistics on Upwork's revenue and its users

Top Picks

  • Upwork has 18 million Freelancers
  • 814,000 active clients who spend at least $5000 on Upwork
  • There are around 3.7 million freelancers on Upwork in the United States
  • Evan Fisher is the highest-earning freelancer on Upwork who's made over $1,500,000
  • The average pay for Upwork freelancers is $21.80/hour
  • Upwork's annual revenue is $566,623 million.
  • The Gross Services Volume has crossed $4.1 billion in 2023 on Upwork


Upwork Users Stats

How many Freelancers are on Upwork?

There are about 18 million freelancers on Upwork according to the last publicly available data

Freelancers on Upwork

The number of freelancers using the platform has grown significantly after 2020 owing to the rise of remote work

How many Clients are on Upwork?

Clients are employers who spend at least $5000 on Upwork

There are 814,000 active clients on Upwork which is a 6% increase compared to the previous year when there were 771,000 clients

Clients on Upwork

This explains that high-value customers have found value in Upwork's services in recent years

For a better understanding, here's the number of active clients during the past 5 years

YearNumber of Clients
2022814,000
2021771,000
2020633,000
2019540,000

It's quite evident that there has been a steady increase in the number of active clients year-on-year

Graph of Active Clients on Upwork


How many Freelancers are in the US?

There are about 3.7 million freelancers on Upwork in the US contributing $21.45 million in revenue to Upwork

Here's a percentage split of Upwork Freelancers by country

CountryPercentage of Freelancers
United States66%
India9%
United Kingdom3%
Canada2%
Rest of the world20%

Most of the freelancers are predominantly present in the United States while countries like India are slowly starting to bring an influx of new freelancers to Upwork

Upwork Freelancers by Country


Who is the highest earner on Upwork?

Evan Fisher, CEO of Unicorn Capital and a well-known Freelance Pitch Deck is the highest-earning Freelancer on Upwork, earning over $1,500,000 in his first 4 years on Upwork

He is the founder of Freelance MVP which has all the remote tools necessary for Freelancers to earn money online

Highest Earner on Upwork


Who uses Upwork the most?

Upwork is predominantly used by companies in the United States specifically in the Information Technology and Services industry with 10-50 employees doing $1 million - $10 million in revenue

People who Use Upwork the most

Information Technology and Services Industry has been the biggest customer on Upwork due to the adoption of remote work culture


Upwork Revenue Stats

How much money do Freelancers make on Upwork?

The average pay for Freelancers on Upwork is $21.80/hour

  • Freelance writers make $10-$100/hour on Upwork
  • Freelance web developers make $13-$324
  • Freelance Graphic Designers make $15-150/hour on Upwork


How does Upwork make money?

Upwork takes a 10% cut as a fee on Freelancer services. This fee is charged on all client contracts be it hourly, fixed-price, or a project catalog

Agencies also pay the same 10% fees on Freelancer services

How much revenue does Upwork make?

Upwork made $566,623 million in 2022 according to the latest filings.

This is a 23% change compared to the previous year when it made $462,340 million in 2021

YearRevenue
2022$566.6 million
2021$462.3 million
2020$338.1 million
2019$300.5 million
2018$253.3 million
2017$202.5 million
2016$164.4 million

This could be explained by an increase in freelancers and the new addition of marquee brands to Upwork

Some of the well-known brands joining Upwork as Enterprise clients are Anheuser-Busch InBev, Constellation Brands, Cushman & Wakefield, Fabletics, Fanatics, Honeywell, Marriott International, Payoneer, Pearson, Reddit, and ServiceNow

Upwork Revenue Stat on Famewall


What is the revenue from Employers?

Upwork makes revenue from employers using the platform for freelance services

In 2023, Upwork had made $283.6 million in revenue from Employers all over the world

Revenue-from-Employers

Upwork makes its cut from payment processing, administration fees, currency exchange fees, memberships, and service commissions

YearRevenue from Employer Clients
2022$283.6 million
2021$205.8 million
2020$146.9 million
2019$113.1 million
2018$90.1 million

This shows that employers contribute to a significant chunk of Upwork's revenue apart from Freelancers on the platform

Image


What is the Gross Services Volume in Upwork?

Gross Services Volume (GSV) is the total value of payments made on Upwork platform which includes money paid to freelancers and the fees charged by Upwork

Upwork has made $4.1 billion in gross services volume in 2023.

YearGross Services Volume
2022$4.1 Billion
2021$3.54 billion
2020$2.52 billion
2019$2.09 billion
2018$1.75 billion
2017$1.37 billion
2016$1.15 billion

The Gross services volume has risen with new freelancers finding it easier to get onboarded on Upwork with remote tools and clients looking for services on the platform

Gross Services Volume in Upwork


Upwork fees for freelancers

Upwork charges a 10% service fee on the services rendered by Freelancers and agencies.

If the Freelancer was eligible for the contract before May 3, then there is a 5% service fee chargeable


Upwork Company Stats

Here are some interesting stats about the company:

Upwork has about 850 employees in 2023

YearNumber of Upwork Employees
2022850
2021650
2020540
2019570
2018430
2017395

Sources: Upwork Community, Upwork, Freelance Forward Report


Conclusion:

This is a roundup of all the Upwork Stats for 2024.

Upwork is a growing freelance marketplace generating $4.1 billion in gross services volume.

With remote work getting more popular, Upwork is likely to gain more popularity and grow its revenue and clients

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