On-Demand Executive Talent Marketplace | Continuum

Addressing the Executive Talent Gap for Startups

Startups operating with limited financial resources often encounter difficulties in recruiting experienced executives capable of driving substantial growth. However, Continuum, a novel talent marketplace specializing in fractional employment, posits that this shouldn't be the prevailing situation.

Introducing Continuum: A New Approach to Talent Acquisition

This remote-centric organization, officially launching today, has been diligently developing a platform designed to connect venture-funded companies with seasoned executives. These professionals possess a proven track record but prefer the flexibility of engagements outside traditional full-time employment.

The Founding Team and Their Vision

Continuum was established in 2020 by a team of industry veterans: Nolan Church, previously the chief people officer at Carta and head of talent at DoorDash; Greg White, formerly Carta’s head of DevOps and security engineering; and Mary Nelson, ex-head of product and design at Voxer. Their core objective was to create a pathway for companies to access top-tier expertise without the constraints of full-time hiring commitments.

The Evolving Landscape of Talent Acquisition

“The current talent scarcity is a well-documented issue, but securing qualified candidates has become increasingly challenging,” Church explained to TechCrunch. “The hiring process is prolonged, and highly skilled individuals have a wider range of opportunities than ever before.” This realization prompted them to explore alternatives to the conventional full-time employment model.

Increased Demand and the Rise of Seed/Series A Funding

The existing talent shortage, coupled with a surge in seed and Series A funding rounds, means that emerging companies are facing reduced unsolicited applications. Consequently, they are compelled to proactively seek out candidates, either independently or through recruitment agencies.

Continuum’s Matching Process and Fee Structure

Continuum streamlines the outbound recruitment process for companies, delivering a curated list of available executives within 48 hours. These executives are prepared to dedicate 15 to 20 hours per week to engagements. Professionals establish profiles detailing their availability and rates, and retain the right to accept or decline opportunities. Continuum applies a 15% service fee to each arrangement.

Benefits for Companies: Avoiding “People Debt” and Leveraging Expertise

By utilizing Continuum, companies can mitigate the accumulation of substantial “people debt” while simultaneously benefiting from the insights of individuals who have successfully navigated similar challenges. Furthermore, Continuum handles all administrative aspects of the worker’s engagement, including contract management, tax compliance, and monthly invoicing.

Seed Funding to Fuel Growth

To facilitate continued platform development, the company announced a $2.85 million seed funding round on Friday. Uncork Capital spearheaded the investment, with participation from Day One Ventures and a consortium of angel investors, including Jack Altman (Lattice founder), Henry Ward (Carta CEO), Matt Mickiewicz (Flippa founder), and Tony Xu (DoorDash founder).

The Future of Work: Flexibility and Employee Choice

Altman, a leader in people management, believes that Continuum’s focus on flexible work arrangements represents the future of employment. He became involved early on, recognizing the founders’ dedication and the potential of their talent marketplace to align with evolving work trends.

Empowering Employees and Adapting to a Changing World

“Employees now have unprecedented levels of choice,” he added. “Individuals are increasingly multifaceted, pursuing diverse interests beyond their primary careers. The balance of power is shifting towards employees, and companies must prioritize support to foster success.”

Growth and Expansion

Continuum launched its initial product in June and has since experienced a fivefold increase in gross transaction volume. Church indicates that the product is approximately 80% complete, and the new funding will be allocated to enhancing executive back-office tools and expanding the engineering team.

Scaling Supply and Demand

The company is actively expanding its network, currently collaborating with 100 executives and three dozen startups.

The Impact of Remote Work and Global Talent Pools

“The widespread adoption of remote work, accelerated by COVID-19, has normalized this working model,” Church concluded. “Geographical limitations are diminishing, enabling us to address the global challenge of sourcing specialized expertise and executive talent.”