Small Business Finance News
Turing Raises $14 Million In Seed Funding As VCs Embrace All Things Remote
Written by Ken Gaebler
Capitalizing on venture capital fund interest in pandemic-relevant businesses, Turing.com will offer an automated platform that makes it easy to hire and manage remote software engineers.
Foundation Capital led the recent seed funding round for Turing.com, which netted the startup $14 million at an undisclosed valuation.
The Turing.com platform uses data science and artificial intelligence to improve the recruitment and management of remote development teams.
Although the funding round is billed as a seed round, the Palo Alto-based company says its platform already has 160,000 developers from 140 countries enrolled. It also indicated that it already has active customers, including Lambda School, VillageMD, Ohi Technologies, and Nexus Events.
Seed round funds will be used to further develop the company's platform and increase headcount in the organization's sales, engineering, and marketing departments.
Other notable investors in the seed round include Adam D'Angelo, CEO of Quora and former CTO of Facebook., and Beerud Sheth, founder of Upwork, along with various executives from Google, Facebook, Twitter, Microsoft, and Amazon.
Turing is capitalizing on an investor feeding frenzy. In a pandemic era that mandates and normalizes remote work, venture capital is flowing freely to many companies that facilitate effective remote work.
Remote.com raised an $11 million funding round in April, and just this week a small video interview startup in Scotland called Willo announced a small seed round to capitalize on increased demand during the Covid-19 lockdown era.
Many other companies with an emphasis on remote work have been able to raise venture funding this year.
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