Freelance software developer platform, Distributed raised £8m - TechHarry

Freelance software developer platform, Distributed raises £8m

Distributed, a platform that connects businesses with a network of independent software engineers has raised £8 million in a new round of funding headed by Downing Ventures and Guinness Ventures.

Established in 2017, Distributed connects larger businesses looking for teams of engineers to collaborate on specific projects with software professionals who prefer the flexibility of working freelancing.

It employs a technique known as "elastic teams," so named for the flexibility of the working environment.

The additional funding will be used by Distributed to expand the business's international footprint and enhance employee satisfaction.

The money follows a £30 million boost the business received in February as a result of a collaboration with telecom behemoth BT.

Through the agreement, BT gained complete access to Distributed's "elastic team" of independent developers to support the telecom's aims for digital transformation.

Other clients of Distributed include the British communications company WPP and the Ministry of Justice.

Two years after its £1.5m seed fundraising round, in May 2021, Distributed also raised £5m in a Series A 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.”

Fuel Ventures and the professional services company Capita are among the other investors in the most recent investment round.