Blog

Empowering Gen Z Independents: Our Investment in Contra

by Ann Bordetsky and Danielle LayNov 02, 2021

We are living a once-in-a-generation revolution in how we work. It’s an exciting time as individuals and companies reimagine how to collaborate, build high performing teams and define professional identity for a new normal of hybrid work.

As we imagine the future of work for consumers and enterprises, we see 3 exciting trends:

  • Accelerated digitization of industries and enterprise collaboration

  • Reset of employee expectations in favor of flexibility and hybrid mode

  • Innovation in decentralized, geo-distributed and autonomous work

One of the notable shifts we see in this arena is the rise of digital independents: expert and early career knowledge professionals who aspire to work on their own terms, build independent careers and embrace individual brands over institutions. Gen Z and Millennials value autonomy and control over what they do more than any generation before them, accelerated by the rise of digital work, the creator economy and the pandemic. Today, 50% of Gen Z and 44% of Millennials participate in the freelance economy in some fashion and there are more than 8 million independents in the US alone. We believe this category will see rapid growth globally as we continue the post-pandemic acceleration of digital work.

Contra is a professional community that empowers Gen Z independents with the tools they need to build professional brands, connect with opportunities, maximize their earning power with commission free payments and tap into powerful networks on a single platform.

When we first met Ben Huffman and Gajus Kuizinas, we were impressed by their creativity and unique insights into independent work, having each spent many years freelancing and building digital nomad communities prior to starting Contra. Unlike incumbent professional networks designed for the old normal and task-based marketplaces that commoditize independent talent, Ben and Gajus saw an opportunity to build a radically new professional network. One fundamentally designed for the unique needs of digitally native, highly skilled independents.

  • Access to community and networked collaboration

  • Autonomy to select values-aligned and relevant project based work

  • Commission free payments to maximize earnings

  • Opportunity to design visual professional brands

  • Financial services for independent work

Just as Shopify built a platform for independent merchants and their unique commerce needs, Ben and Gajus saw an opportunity to create a purpose-built platform for a new class of digital independents. At NEA we have a history of partnering teams who democratize access to services and create new economies. Robinhood democratized access to financial markets. Patreon built a powerful monetization tool for independent creators. Masterclass unlocked access to the world’s leading experts. We couldn’t be more excited to support Ben and Gajus in their ambitious vision to empower individual, flexible, decentralized work for a new generation of talent and support this team on their journey. Power to the independents!

If you’re interested in building the future of work with Contra, you can find open positions at https://contra.com/careers.

Follow Contra on TikTok and Twitter.

About the Authors

Ann Bordetsky

Ann is a Partner at NEA, where she focuses on early-stage investing in consumer technology and AI application software and marketplaces. Prior to NEA, Ann was Chief Operating Officer of Rival (acquired by Live Nation) and held business leadership roles at Uber and Twitter during their growth phase. As an operator, she has seen Silicon Valley startups through each phase of the company-building lifecycle, from first launch to IPO. Ann holds an MBA from the Stanford Graduate School of Business and a BS from UC Berkeley.
Ann is a Partner at NEA, where she focuses on early-stage investing in consumer technology and AI application software and marketplaces. Prior to NEA, Ann was Chief Operating Officer of Rival (acquired by Live Nation) and held business leadership roles at Uber and Twitter during their growth phase. As an operator, she has seen Silicon Valley startups through each phase of the company-building lifecycle, from first launch to IPO. Ann holds an MBA from the Stanford Graduate School of Business and a BS from UC Berkeley.

Danielle Lay

Danielle joined NEA in 2017. As a Partner based in New York, she is focused on consumer, social, and commerce infrastructure companies. She is an active investor and/or serves on the board of Burrow, Fizz, Goody, Patreon, and Prime, among other companies. She is also a member of NEA’s Asia investing team. Prior to joining NEA, she was an investment banker at Goldman Sachs covering fintech. She graduated from Northwestern University with a BA in economics, business institutions, and Chinese.
Danielle joined NEA in 2017. As a Partner based in New York, she is focused on consumer, social, and commerce infrastructure companies. She is an active investor and/or serves on the board of Burrow, Fizz, Goody, Patreon, and Prime, among other companies. She is also a member of NEA’s Asia investing team. Prior to joining NEA, she was an investment banker at Goldman Sachs covering fintech. She graduated from Northwestern University with a BA in economics, business institutions, and Chinese.