PeoplePerHour.com Raises Undisclosed Amount In Second Round Of Funding

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Another deal in the online job site space, albeit of a slightly smaller scale than the HotJobs purchase by Monster.com… PeoplePerHour.com, a London-based job site for freelancers with a focus in the media and IT industries, has closed a round of interim funding believed to be in the range of half-a-million pounds.

The round included Index Ventures, along with the founders and existing angel investors. One of these is Michael van Swaaij, a former executive from eBay (NSDQ: EBAY) who helped it establish its European operations, Xenios Thrasyvoulou, the CEO, tells us.

Thrasyvoulou says that the money will be used to expand its business both in Europe and the U.S. The latter market currently makes up around 25 percent of the company’s business.

The company has raised £425,000 to date in previous rounds, bringing the total amount to more than a million overall, Thrasyvoulou tells us. He says that the site is already cash-generating.

Thrasyvoulou says that the number of freelance workers are exploding today but it’s not just a function of the recession and related layoffs. It’s about how much easier it is now to work from a home office: “A lot of people misinterpret what is happening. They think people are freelancing out of necessity, but it’s just an acceleration of a trend that already started because of broadband and the Internet.”

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