A UK-based platform that gives businesses access to a pool of independent software developers, Distributed has secured £8m in new funding. The tracking round was led by Downing Ventures and Guinness Ventures and supported by Fuel Ventures and Capita.
The new cash will be used to increase the international reach of the business. The company previously raised £5m in a Series A funding round in May 2021.
Founded in 2017, the platform is for software developers who want the flexibility of freelancing with large companies looking for teams of engineers to work on specific projects. It uses a system called “elastic teams”, so named because of the flexible nature of organizing work.
The investment builds on a £30m raise in February through a partnership with telecommunications giant BT, which gives BT full access to Distributed’s “elastic team” of independent developers to help support telecom digital transformation goals.
Callum Adamson, CEO of Distributed, said, “The team at Downing offers more than just financing and their industry expertise will add value that will really accelerate our service. Thanks to this new funding, we will be able to build on our objective of internationalization and the development of our products and our communities. “
