[Techtaffy Newsdesk]

Elance has secured $16 Million in expansion capital led by the Stripes Group with existing investors, New Enterprise Associates (NEA) and Kleiner Perkins Caufield & Byers, participating. The investment will fund Elance’s growth as more businesses build contingent workforces in the cloud, says the company.

Dan Marriott, managing partner at Stripes Group, and Paul Hsiao, partner at NEA, were appointed to Elance’s Board of Directors.

Elance is a online platform for online employment and projects. The company is privately held and headquartered in Mountain View, California and Oslo, Norway.

[Upload: 04-06-12]