The digital talent marketplace MBA & Company today announced that it has secured a £800K funding round (Update – March 2023: The startup seems to be no longer in business under this website, and we therefore deactivated the original link).
This round was led by MMC Ventures, with co-investment from Piton Capital and the existing investor Cabiedes. The fresh capital will be used to enhance the platform and grow sales and marketing.
MBA & Company provides both corporates and SMEs with instant access to high-end advisory and research work, through an online network of highly qualified freelance consultants. Access to this network reduces the cost of projects, typically sourced through traditional consultancies or recruited in-house, as well as providing a flexible source of talent to work onsite or around the globe.
The London-based startup was founded in 2009 by Adam Riccoboni and Daniel Callaghan, who we interviewed in 2011. Their digital marketplace has already attracted over 16,000 independent professionals, each with at least five years’ professional experience, plus an MBA, MSc or PhD from a world-leading business school, from more than 100 countries. Clients vary from individual entrepreneurs and startups to FTSE 100 or Fortune 500 businesses in more than 50 countries and spanning 40 industries, with project costs ranging from £100 to £250K+. The site operates a curated consultant selection process to ensure only the most applicable are selected for a project, resulting in over 98% of projects being rated as ‘successful’ by the client. MBA & Company’s online distribution model, virtual network, elevated entry criteria for consultants and ‘pay as you go’ service aims to ensure zero wastage for companies and a lean cost structure without having to sacrifice quality.
Jon Coker, director of MMC Ventures, stated: “The way that companies access and employ talent is changing and we believe MBA & Company’s focus on high-end consultancy is well positioned to benefit from this trend. We have been very impressed by the growth they have shown to date and see huge potential for further international expansion. We look forward to working with Daniel, Adam, David and Aleksi as they continue to grow.”
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