Turing, the leading Intelligent Talent Cloud, has announced that it reached unicorn status after closing an $87 million Series D funding round, bringing its valuation at around $1.1 billion.
The round was led by WestBridge Capital with participation from Foundation Capital and new investor StepStone Group.
WestBridge Capital is a $7 billion fund that has invested in global IT service companies like Cognizant Technology Solutions and Global Logic, while Foundation Capital, which is a $4 billion fund, has invested in companies like Netflix, Uber, and Solana. StepStone Group, a $22 billion late-stage growth equity fund, has invested in leading talent clouds like WorkRise.
The list of investors also included AltaIR Capital, HR Tech Investments LLC, Brainstorm Ventures, Frontier Ventures, Modern Venture Partners, and Plug and Play Scale Fund.
Growing Developer Pool
Turing’s total raised capital is now over $140 million, and the company has grown its developer pool over 17x within the last 12 months following its Series B in December 2022. Some of the recently added customers include Johnson & Johnson, Rivian, Coinbase, Disney, Dell, Plume, and VillageMD.
Turing has over one million developers from 140 countries, which has helped lead to its exponential growth.
Jonathan Siddharth is Founder and CEO of Turing.
“Our mission is to unleash the world’s untapped human potential,” said Siddharth. “We now live in a remote-first world, and every company is in a race to reap the benefits of global engineering talent. The future is remote distributed global teams.
Sumir Chadha is Managing Director of WestBridge Capital.
“Turing’s growth has been nothing short of phenomenal,” said Chadha. “Over the past two decades, we have invested in and witnessed the creation of massive companies in offshore development across the globe. Turing is pioneering the new era of such companies with machine learning and automation at the core.”
Intelligent Talent Cloud
Turing’s Intelligent Talent Cloud combines planetary reach and AI to deliver engineers that are billed by the month. With its software sources, it vets talent, optimizes matching via AI, and makes it easier for managers and developers to collaborate.
This process means a customer’s engineering team doesn’t need to conduct interviews, which saves hours of engineering interviewing time.
John Avirett is partner at StepStone Group.
“Turing’s ambitious vision of enabling fantastic opportunities for developers across the globe is inspiring,” said Avirett. “The Intelligent Talent Cloud truly is a remarkable way to democratize access and make lasting connections beyond inking the contract; they’re cultivating the process into long term career planning for the individual and the companies who use them.”
Turing currently supports 15 different job types and over 100 different technologies. Through deep matching intelligence, the best engineer can be found for each role, making remote development more easy, compliant, and secure.
“The way we work has fundamentally changed. With the world’s shift to remote work and the talent cloud, we are entering a golden era for the tech industry. You can now work in silicon valley without needing to live in silicon valley. Talent is universal. Now, opportunity is too.” said Siddharth.
Credit: Source link
