Unique algorithms secure £600,000 investment for Gigged AI
“Game changing” unique algorithms that minimise geographical bias to save freelance recruiters time and budget has attracted £600,000 investment for start-up Gigged.AI.
The company’s artificial intelligence (AI)-driven technology transforms the sourcing and on-boarding of tech talent in the gig economy by giving employers and on-demand talent a simple and effective way to connect and work together in the post-COVID-19 economy.
Gigged.AI has developed unique algorithms that minimise geographical bias to match the most relevant on-demand talent to a specific statement of work, reducing onboarding time by six weeks and enabling projects to deliver faster and within budget.
Glasgow-based Gigged.AI was founded by CEO Rich Wilson, a former senior executive with Gartner, and Chief Technology Officer Craig Short.
This investment round of £600,000 will support Gigged.AI’s growth in a market expected to be worth $2.7tn by 2025, according to McKinsey. The company will double its staff from seven to 14, with a focus on building its sales and customer success teams. The team will also continue to develop its innovative technology for future product launches.
With a clear growth trajectory, the successful investment round follows a grant from Innovate UK’s Sustainable Innovation Fund to further develop Gigged.AI’s technology, which the funding body described as having “clear potential to be a game-changer.”
Rich Wilson, CEO of Gigged.AI, said: “Since our launch in July 2021, the response to our product has surpassed our expectations and confirmed there is a substantial market for our proposition at a time when how we work is changing. Techstart and our other prominent investors are the ideal partners to help us scale to reach a much wider audience and further develop our offering to position us at the forefront of the global talent platform industry.”
The funding round was led by Techstart Ventures with additional angel investment from other UK tech sector leaders who will form a new Gigged.AI advisory board. They include the company’s Chair John Brodie and Warwick Beresford-Jones (Co-Founders of Aquila Insight), Nick Jones (Co-Founder of cryptocurrency wallet Zumo), and Grant Fraser (Co-Founder and CEO of Digitonic).
Calum Forsyth, Investor at Techstart Ventures, said: “From our earliest conversations, we were impressed by Rich and Craig’s domain expertise and product vision. We are delighted to back Gigged.AI and join them on their journey to revolutionise how organisations engage with top-tier freelancers.”
Gigged.AI is being supported by commercial lawyers Davidson Chalmers Stewart on its fundraise. Stephen Smith, Partner, added: “Gigged.AI has completed an over-subscribed funding round and has attracted interest from major players within the UK technology sector. This really highlights the strength of its proposition and its potential underlying value within a major global marketplace.”
- Gigged.AI is an artificial intelligence-led product that uses unique algorithms to minimise geographical bias, allowing recruiters to find and connect with the best tech talent
- The start-up has previously secured grant funding from Innovate UK and has now closed a successful investment round of £600,000 to double its staff, continue developing its technology and support its growth in the global talent platform industry
- For more information about Gigged.AI visit https://gigged.ai/
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