Gigster, a US-based provider on-demand software development services provider backed by media company Bloomberg, raised $10m for a series A round led by venture capital firm Andreessen Horowitz yesterday.
Y Combinator Continuity Fund I, an investment unit of accelerator Y Combinator, also invested in the round, as did SV Angel, Sound Ventures and Launch Fund.
Gigster offers on-demand software design and development services. Clients talk to a product manager who provides them with a fixed quote and assembles a team of developers, handling the entire process on their behalf.
The funding will help Gigster tackle its growth by investing in core technology and strengthening its position in the market. The company is also working on machine-learning technology to optimise software development.
Lars Dalgaard, partner at Andreessen Horowitz, will join Gigster’s board of directors in conjunction with the round.
Gigster raised $2.5m in seed funding at the time of its launch in July 2015 from backers including Bloomberg Beta, the strategic investment arm of media company Bloomberg, as well as Y Combinator, Greylock, Felicis Ventures, and angel investors Naval Ravikant, Stan Chudnovsky and Emmit Shear.
Lars Dalgaard said: “Gigster is filling an important, unmet need in today’s digital world. We see so many startups and companies wasting resources on hiring developers and unnecessarily scaling just to build prototypes, when they should be able to build them with the click of a button. Now with Gigster, they can do that.”