The follow-on investment will support international expansion and product development.
"We’re thrilled that Downing Ventures has decided to back us in our next chapter. 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."
YFM Equity Partners has provided an £8m follow-on investment to support organic growth and acquisitions.
"We have seen consistently strong growth since YFM’s initial investment, with their funding enabling us to take advantage of market opportunities as well as us benefitting from the team’s strategic insight. Together, we have developed an ambitious plan to scale the business, both in the UK and abroad, through both organic and acquisitive growth, as the sector continues to expand post-pandemic."
BGF has backed the Preston-based hybrid cloud provider in a deal that sees Harry Jones join the board.
"In the last 19 years we have achieved sustained business growth and critical acclaim, by diversifying from provision of enterprise infrastructure to a cloud and managed services specialist across both public and private sectors."
The Series A round was led by Guinness Asset Management and will support the company's enterprise growth and product development.
"The workforce of the future is on-demand, adaptive, and independent. Distributed is here to enable those independent careers with more benefits than permanent employment, and to ensure that our customers can access high quality, motivated talent effortlessly with our enabling technology. This will see businesses building with smaller, more specialised core teams, supported by an Elastic™️ Workforce of experts that can be deployed to tackle any software goal in support of our customer’s missions."