Tech talent startup Distributed to grow UK workforce 600% with £1.5m seed funding
Announced this morning (February 5), the deal will provide the London-based startup with capital to scale its UK workforce and develop its technology.
Distributed is the company behind the Elastic Team platform, which sees customers provide a brief description of the technical outcome they require and uses machine learning to deliver the outcome without the need for talent management from the customer.
The company was founded in 2017 and generated revenues of more than £1m in its first year. It now plans to grow its UK team 600% by the end of 2019.
The investment round with Fuel Ventures has taken Distributed’s total initial funding to £1.65m.
Callum Adamson, CEO of Distributed, said: “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.”
He continued: “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.”
Speaking further, Callum said the company’s aim is to “raise the benchmark on the delivery of digital work”, adding: “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.”
Fuel Ventures founder Mark Pearson commented: “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.”
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