UK-based platform that gives companies access to a pool of freelance software developers, Distributed has secured £8 million in fresh funding. The follow-on round was led by Downing Ventures and Guinness Ventures and backed by Fuel Ventures and Capita.
The new cash will be used to drive the company’s international reach. The company had earlier raised £5 million in a Series A funding round in May 2021.
Founded in 2017, the platform matches software developers who want the flexibility of working freelance with larger enterprises seeking teams of engineers to work on specific projects. It uses a system called ‘elastic teams’, named so due to the flexible nature of the working arrangement.
The investment comes on the back of £30 million boost in February through a partnership with telecom giant BT, which gives BT full access to Distributed’s ‘elastic team’ of freelance developers to help support the telecom’s digital transformation goals.
Distributed CEO Callum Adamson said: “The Downing team offers a lot more than just funding and their expertise in the sector will provide a value-add that will really accelerate our service. With this new funding, we’ll be able to lean into our goal of internationalizing and developing our products and communities. “
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