AI business raises £1.5m in largest ever seed funding round from Fuel Ventures

Funding | Latest News | South East | Technology
Mark Pearson

Distributed, the AI-powered tech talent resourcing platform, has raised £1.5 million in a seed funding round from Fuel Ventures.

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 created Elastic Team platform and customers need only provide a brief description of the technical outcome they require, before Distributed’s machine learning technology combined with a global network of specialists then deliver the outcome without requiring any talent management by the customer.

The company has already seen revenues hit in excess of £1 million. It will be using the cash injection to grow its UK team 600% by late 2019 to coincide with the public availability of its platform.

Callum Anderson, CEO of Distributed, comments: “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. 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, comments: “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.”

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