A.Team comes out of stealth with $60m funding to rethink tech's talent crisis

A.Team comes out of stealth with $60m funding to rethink tech's talent crisis

Published: 17-05-2022 14:59:00 | By: Pie Kamau | hits: 401 | Tags:

A.Team, the first members-only network of the world's top product builders, came out of stealth mode and announced a $55 million Series A financing round co-led by Tiger Global Management, Insight Partners and Spruce Capital Partners, on top of a previous $5 million seed round.

While in stealth, A.Team assembled 4,000 of the world's best product builders, and empowered 250+ companies to overcome hiring challenges by equipping them with expert, cloud-based teams to accelerate product development. 

With this announcement, A.Team is now opening up to serve more companies on its waitlist, and inviting companies with meaningful product missions to request access to its team formation platform. A.Team will be making big investments in creating an upside-sharing ecosystem to build a home for the world's best product builders, as well as its TeamGraph technology, which applies behavioral science to assemble teams with the optimal skill set for a company's product mission.

A.Team was born in the wake of the COVID-19 pandemic, which accelerated the need for remote, on-demand teams with the skills to quickly develop solutions in real-time. Early adopters include McGraw Hill, eToro, Morgan & Morgan, and Chief, and a host of startup, growth, and enterprise companies that have grown rapidly since the onset of the pandemic. While invite-only, A.Team has grown 7x in the past year due to the increased demand for ready-to-deploy tech talent. 

The need for skilled product builders has ballooned as the Great Reconsideration set off an unprecedented attrition rate, particularly in tech. In fact, data shows 72% of employees working in tech/IT roles are thinking of quitting their job in the next 12 months, compared to 55% of the overall workforce. As a result, companies are lost between hiring freelancers and expensive, outdated firms. With 36% of all workers now freelance, and 53% of those workers offering in-demand skills like computer programming and IT, these companies are missing a lucrative opportunity to deploy highly-skilled freelance teams.

Raphael Ouzan, CEO and Co-founder, A.Team: "We founded A.Team because there's nothing more powerful than having the freedom to choose to work on problems that matter to you with people you love to work with. Every idea that's ever changed the world has had a great team behind it. Yet, teams, the core unit of work in the knowledge economy has never been optimized with technology. With cloud-based teams, we're unlocking the ability for highly-skilled professionals to escape rigid structures and team up to do the most meaningful work of their career and transform the way that companies build in the process."