Freelance developer network A.Team raises $ 55m

Israeli startup A.Team, which operates a website that enables enterprises to hire development professionals and teams, has operated under the radar up till now. Today, A.Team was exposed to the media for the first time with a $ 55 million A round, which follows a $ 5 million seed round in early 2020.

The seed round was led by NFX, and among the participants were psychology professors and writers Dan Ariely and Adam Grant, and Shai Wininger, a founder of Lemonade and Fiverr, who helped in putting together the product. The A round was led by Insight Partners, Tiger Global, and musician Jay-Z.

A.Team brings together companies and freelance product builders (developers, engineers, product managers, designers, data scientists, and marketing people), enabling the companies to hire the product builders as individuals or teams in order to solve complex technological problems.

A.Team was founded in 2019 by Raphael Ouzan (CEO), who in 2015 sold expenses management startup BillGuard for $ 50 million; and Kobi Mastri (COO), formerly with consultants McKinsey. The two met as officers in IDF signals intelligence unit 8200. The company employs 73 people in Tel Aviv and New York.

According to its announcement, A.Team brings together 4,000 product builders and 250 companies that use its services. Among its customers, according to its website, are eToro, The Economist, Lyft, and PepsiCo.

Ouzan says the company has revenue running at $ 42 million annually. “We’re doubling revenue every quarter, and we turned profitable within 14 months of the first customer,” he says.

Published by Globes, Israel business news – en.globes.co.il – on May 17, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.


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