Mark Cuban-backed HourlyNerd raises funding from Highland & Greylock

The HourlyNerd team — from left, Peter Maglathlin, Pat Petitti, David Connolly, Joe Miller, and Rob Biederman (courtesy of company)
The HourlyNerd team — from left, Peter Maglathlin, Pat Petitti, David Connolly, Joe Miller, and Rob Biederman (courtesy of company)

HourlyNerd, which offers an online marketplace linking MBAs with businesses for part-time or freelance work, on Wednesday said it’s raised a Series A round led by Highland Capital Partners with participation from Greylock Partners.

The size of the round was not disclosed. (The Wall Street Journal has reported the round at about $4 million, but an HourlyNerd spokesman said that figure isn’t accurate.)

The Boston startup was founded at Harvard Business School and in September raised $750,000 in seed funding, including $450,000 from prominent angel investor Mark Cuban.

The funding will be used to grow HourlyNerd’s technology team and make improvements in the firm’s marketplace.

The marketplace allows businesses to find MBA students and alumni, who provide work “at reasonable rates and on an ‘as needed’ basis,” HourlyNerd said. More than 2,500 companies have used more than 4,000 HourlyNerd MBAs since the service launched last year.

“This is the right team at the right time to fracture the current consulting business model and link the necessary players to solve critical business problems at affordable prices,” said Highland general partner Dan Nova, who is joining the board at HourlyNerd.

Kyle Alspach has worked in journalism in Massachusetts since 2005 and was one of the original staff writers at BetaBoston.
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