Lystable, a three-year-old startup that provides companies with software to manage freelance workers, has raised an additional $10 million in Series A funding. Peter Thiel's Valar Ventures led the new funding, with Max Levchin's Scifi VC, Kindred Capital, Goldcrest Capital, Glynn Capital, and Wilmont Ventures also participating.

Origin story: Founder and CEO Peter Johnston got the idea after seeing first-hand the inefficiencies of managing freelancers while working in Google's London office. Things like getting them access to the tools they needed for work and payments were challenging, he told Axios. His startup's name, Lystable, is derived from the fact that Johnston would create lists and spreadsheets to manage his contractors.

Uber-ification: Taking a cue from on-demand companies like Uber and TaskRabbit, which manage their labor force via software tools at large scales, Johnston hopes that traditional employers can think of their own staffing in the same way. Summoning contractors for a design job, for example, should be just as easy, says Johnston.

And while Johston says his company isn't focused on helping freelancers find the next client or gig, Valar Ventures partner James Fitzgerald told Axios that he wouldn't be surprised if Lystable does eventually build a marketplace for freelance gig. After all, once a certain fraction of the freelancer market is using Lystable for one job, connecting them to new ones would be the natural next move.

Expansion plans: With its new funds, Lystable plans to continue building out payments features into its software, soon add four more executives, grow its team to 75 employees by the end of the year, and continue to expand beyond the U.S.

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Updated 2 hours ago - World

Pandemic plunges U.K. into "largest recession on record"

The scene near the Royal Exchange and the Bank of England in the City of London, England. Photo: Tolga Akmen/AFP via Getty Images

The United Kingdom slumped into recession as its gross domestic product GDP shrank 20.4% compared with the first three months of the year, the Office of National Statistics (ONS) confirmed Wednesday.

Why it matters: Per an ONS statement, "It is clear that the U.K. is in the largest recession on record." The U.K. has faired worse than any other major European economy from coronavirus lockdowns, Bloomberg notes. And finance minister Rishi Sunak warns the situation is likely to worsen.

Updated 2 hours ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

The United Kingdom slumped into recession on Wednesday, as its gross domestic product GDP shrank 20.4% compared with the first three months of the year.

By the numbers: Over 741,400 people have died of the novel coronavirus globally and more than 20.2 million have tested positive, per Johns Hopkins. Almost 12.6 million have recovered from the virus.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 20,294,091 — Total deaths: 741,420— Total recoveries: 12,591,454Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 5,141,207 — Total deaths: 164,537 — Total recoveries: 1,714,960 — Total tests: 63,252,257Map.
  3. States: Georgia reports 137 coronavirus deaths, setting new daily record Florida reports another daily record for deaths.
  4. Health care: Trump administration buys 100 million doses of Moderna's coronavirus vaccine.
  5. Business: Moderna reveals it may not hold patent rights for vaccine.
  6. Sports: Big Ten scraps fall football season.
  7. World: Anthony Fauci "seriously" doubts Russia's coronavirus vaccine is safe