Distributed, the AI-powered tech talent resourcing platform, today announced that it 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 both 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.
With 50 customers onboarded in its first year of business, coupled with revenues in excess of £1m, Distributed will be using the cash injection to grow its UK team 600% by late 2019 to coincide with the public availability of its platform. Already working with Mastercard, Sytner Group, Heron AI, REISS and RBS, Distributed is quickly establishing itself as the market-breaking product for the way businesses deliver digital work in the UK.
“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,” comments 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.”
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.
“This next evolution of Distributed will allow us to grow our team, our network of partners and speed the innovation of our platform.
“We’re aiming to raise the benchmark on the delivery of digital work, and we’re executing against a tremendous opportunity here in the UK. 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.”