Ruffly, a Scotland-based software planning startup, has raised a £300K pre-seed funding round led by Techstart Ventures. The funding will support the growth of the team and the development of the product for its full launch.
Improves efficiency by 25%
Founded by software entrepreneur Matt Farrugia, Ruffly is on a mission to eliminate the cost of software planning failures, changing the expectations of what can be predicted using data-led insights.
Notably, Farrugia, who founded and ran software development agency Bemo, sold it in 2020 before going on to start Ruffly with a founding team of ex-agency colleagues.
Ruffly says, companies using its platform can improve efficiency by 25% – equivalent to an extra day a week for each engineer in the team. Currently, the platform is in public beta with customers worldwide using the product and providing valuable feedback.
Farrugia said: “The digital economy is 22% of global GDP and yet it’s an inside joke that software and IT projects often overrun. Studies have shown that two-thirds of projects have planning failures. That’s a trillion-dollar collective failure of our industry.”
“The world is increasingly project-centric but many project managers still rely on spreadsheets for planning. If you think about that for a second, it’s astonishing that the standard tool for planning is the same as it was pre-internet.”
According to Farrugia, the current project management practices largely rely on the processes and experience of individual project managers, without really considering if there are other data sources that can improve outcomes. Ruffly is an attempt to radically reset expectations around how we forecast and track these types of ambiguous project deliveries.
He added: “I’ve built software with hundreds of clients and there’s no-one who thinks software planning is solved. I think there is so much under-served potential in the estimation, prediction, automation, and communication. Companies using Ruffly can improve efficiency by 25% – equivalent to an extra day a week for each engineer in the team.”
Calum Forsyth, the investor at Techstars Ventures, said: “We are delighted to lead Ruffly’s pre-seed round. Matt has great passion and knowledge of software planning, and we have been hugely impressed by the ambition of the Ruffly team.”