London-based Distributed, an AI-based tech talent resourcing platform, has raised €1.7 million in a seed funding round from Fuel Ventures. The new capital will be used to scale both Distributed’s technology and its UK team to keep up with growing demand for its Elastic Team platform.
On 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.
Founded in 2017, the startup counted 50 customers in its first year of business, along with revenues in excess of €1.1 million. Distributed plans to use the funding 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,” commented 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.”
“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,” said Mark Pearson, Founder of Fuel Ventures. “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,” added Adamson. “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.”