Distributed raises £1.5m in seed funding
Distributed, the AI-powered tech talent resourcing platform, has raised £1.5m in a seed funding round from Fuel Ventures to bring its total initial funding up to £1.65m.
The new capital will be used to scale Distributed’s technology and UK headcount to keep up with growing demand for its Elastic Team platform.
Founded in 2017, Distributed has already gained acclaim for changing the way businesses are working. Using its Elastic Team platform, customers need only provide a brief description of the technical outcome they require. Distributed’s machine learning technology combined with a global network of specialists then deliver the outcome without requiring any talent management by the customer.
Already working with Mastercard, Sytner Group, Heron AI, REISS and RBS, Distributed has 50 customers onboard in its first year of business, coupled with revenues in excess of £1m. It will use the cash injection to grow its UK team 600% by late 2019 to coincide with the public availability of its platform.
“In a world where tech talent is in increasingly short supply, it’s clear that maintaining the pace of delivery required by modern businesses, via hiring direct or outsourcing, is no longer working. We created Distributed to answer this problem,” said Callum Adamson, CEO of Distributed.
“Using our AI-powered global workforce, the best talent is deployed into work that is meaningful to them as individuals, and organisations achieve both their business goals and a better return on their spend.
“Our ultimate goal is to make great work available to millions of digital specialists worldwide, while simultaneously removing resourcing, HR and talent headaches for businesses large and small.”
Mark Pearson, founder of Fuel Ventures, said: “The need for software development is accelerating at an unprecedented rate, which we expect to exceed trillions of spend over the coming decade, and Distributed will be positioned front and centre of this growth.
“We believe the majority of businesses should focus on their own core competencies and use the Distributed platform to create better digital products for their customers.”