– Par Equity will lead a £1.6m seed investment alongside existing investor Techstart Ventures, Nile HQ and a number of leading entrepreneurs.
– The Glasgow-HQ-ed startup helps businesses source and onboard tech talent on demand, enabling SMEs and large corporations to retain existing staff.
Glasgow, Scotland, January 16, 2023–(BUSINESS WIRE)– Gigged.AI is poised to boost its workforce technology as companies tackle hiring cuts and employee retention. The company has secured its latest investment, a £1.6m seed round with existing investor Techstart Ventures, led by Par Equity and headquartered in Niles. Glasgow-headquartered startup Gigged.AI deploys AI-matching algorithms to help businesses find in-demand tech talent, and enables SMEs and large corporations to retain existing employees. Clients signed up to the platform include the BBC, ATOS, Webhelp, Skyscanner, FanDuel and the University of Edinburgh.
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Gigged.AI co-founders Rich Wilson and Craig Short at the company’s Glasgow headquarters (Photo: Business Wire)
In the UK alone, gig economy workers have tripled over the past five years, with future work trends due to the pandemic and remote or distributed workforce and, more recently, cutbacks in the tech sector against a backdrop of economic recession.
Gigged.AI CEO and Co-Founder Rich Wilson said, “The ‘Great Resignation’ has seen millions of people quit their jobs every month, leaving in search of greater flexibility and better opportunities. When you look at Gen Z, almost two out of three are now freelancers, and in our own talent society we’re seeing 70 percent of people on the platform have a second job.
Rich Wilson added: “Our client companies are experiencing these trends firsthand and now have much better visibility into what talent they have in-house and where they need to increase or increase their talent. A pioneering product as we have an open and in-house talent marketplace, the companies we work with are the first to have this kind of dual platform.
Paul Atkinson, partner at Parr Equity, a recruitment industry veteran who has overseen multiple exits in the sector, said, “HR tech is a rapidly growing segment, and what Rich, Craig and the team have built in terms of building technology to support, onboard and retain employees has been an incredible success in a short period of time. it is.
The company plans to grow its remote team in addition to its Glasgow and London hubs over the next twelve months, with a number of partnership and contract wins already underway this year.
Gigged.AI has been featured in the Startups 100 Index 2023, the UK’s longest running index of the 100 most disruptive and innovative small businesses, joining Startups 100 alumni which include Monzo, Deliveroo and HelloFresh.
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