Israeli Team Formation Startup A.Team Emerges From Stealth With $60M
Israeli team formation startup A.Team, emerged from stealth mode this week to announce the completion of a $55 million Series A financing round on top of a previously undisclosed $5 million seed round to expand its network of product builders and client base.
The company has raised a total of $60 million to date.
The newest round was co-led by investment firms Tiger Global Management, Insight Partners, and Spruce Capital Partners.
A.Team aims to exponentially scale its current $42 million gross merchandise value (GMV) by continuing to grow its product builder network and investing in its demand growth initiatives.
Founded in 2020 in the wake of the COVID-19 pandemic and the subsequent transition to widespread remote work, A.Team developed an on-demand team formation platform that grants companies access to a vast members-only network of highly skilled product builders ranging from engineers, product managers, designers, data scientists, and marketing talent to accelerate their respective product development.
Builders can apply to A.Team as a team or as an individual and can start interacting with the platform only after they undergo a rigorous vetting process. Only then can they start creating a team of people they enjoy working with or join an ad-hoc team for a company mission.
The startup established a network of 4,000 product builders and aided more than 200 companies such as American publishing company McGraw Hill, Israeli multinational multi-investment company eToro, American law firm Morgan & Morgan, women-oriented private membership network Chief, as well as a host of startup, growth, and enterprise companies throughout the U.S and Israel while in stealth mode. With the rising demand for ready-to-deploy tech talent, A.Team has grown 7x in the past year.
“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,” said CEO and co-founder Raphael Ouzan. “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.”
“A.Team is the rare startup that could fundamentally change how we work,” said A.Team advisor, organizational psychologist, and bestselling author Adam Grant. “COVID made it clear that we need to rethink work, but it’s much bigger than just letting people work from anywhere. A.Team is reinventing the way we organize in the knowledge and creative economy by empowering people to pick their projects and teammates—and empowering companies to hire top talent on-demand. Instead of selling your soul to one company, you can rent your skills to the highest bidder or the highest purpose.”