Buzzacott supports Distributed secure £5m in Series A funding
20 May 2021 • Corporate Finance • M&A Advisory • Technology and Media
Our corporate finance team have supported Distributed, an AI-based tech talent resourcing platform, secure £5 million in a Series A funding round.
This latest investment brings Distributed’s total funding raised to date to over £9m, and was led by Guinness Asset Management with participation from Fuel Ventures, Filippo Sarti and Andreas Mihalovits.
Distributed is a fast-growing UK start-up that is enabling the adoption of on-demand and outsourced teams by businesses and the public sector. ‘Elastic Teams’, the company’s proprietary technology, allows organisations to engage a globally distributed workforce without the time and cost burdens of recruitment, management, or retention. This enables businesses to create digital roadmaps that are delivered faster and to a higher standard than previously possible.
The funding comes after Distributed announced a partnership with Capita plc in 2020, which has accelerated the adoption of Distributed’s Elastic Teams across Capita’s network of Enterprise customers.
We are proud to have supported Distributed at such an exciting time of growth for the business, in an environment where there is increasing demand for freelance workers. The funding will support their continued growth and help them to scale their operations and platform features to improve customer experience.
"Buzzacott’s expertise and understanding of the sector was invaluable in guiding us to the right investors that will enable us to continue transforming the sector by giving a better way to build for our customers and a brighter future for those pursuing independent careers in the tech industry."
Jeff Bousfield, Distributed COO
This is Buzzacott’s second deal of 2021 in the digital transformation and software development sector, and tenth deal of the year in the tech sector . The outsourced development and digital transformation markets are growing rapidly, fuelled by the demand for quality and flexibility in projects. We expect this growth to continue with significant M&A to come as the currently fragmented market starts to consolidate.