Distributed, a platform that gives companies access to a pool of freelance software developers, has secured £8m in fresh funding in a follow-on round led by Downing Ventures and Guinness Ventures.
Founded in 2017, Distributed 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.
Distributed will put the new cash injection towards growing the company’s international reach and improving its workforce experience.
The funds come after the company was given a £30m boost in February through a partnership with telecom giant BT.
That deal gave BT full access to Distributed’s ‘elastic team’ of freelance developers to help support the telecom’s digital transformation goals.
Distributed’s other clients include the Ministry of Justice and British communications firm WPP.
Distributed also raised £5m in a Series A funding round in May 2021, two years after its £1.5m seed funding round.
“We’re thrilled that Downing Ventures has decided to back us in our next chapter,” said Distributed CEO Callum Adamson.
“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 internationalising and developing our products and communities.”
Other participants in the latest funding round include Fuel Ventures and professional services firm Capita.
“It’s a fantastic time to be partnering with Distributed to contribute to their growth journey. The quality of work they provide in a specialist field is a very attractive proposition,” said Jack Eadie, a partner at Downing Ventures.
“The team at Distributed are clearly passionate and understand that improving the efficiencies of businesses requires a personalised approach to ensure a positive outcome for the client.”
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