Crowdsourcing site gains £2m funding for UK expansion
Australian business hopes to start hiring UK staff
An online marketplace set up specifically to help creative entrepreneurs has received a venture capital investment worth £2m to fund its expansion into the UK.
DesignCrowd, set up in Australia three years ago, is designed to help businesses outsource creative projects to a network of designers and creative experts, and tap into the growing popularity of crowdsourcing. The company has already signed up 10,000 British designers, and the new investment, from Australian venture capital firm Starfish, will enable it to build on this base, and begin hiring staff in the UK. DesignCrowd is particularly keen to target Britain’s five million small businesses, which often struggle to secure design services at realistic prices. Alec Lynch, founder and CEO of DesignCrowd, said: “Starfish’s investment is very exciting – it will help us transition from a bootstrapped Sydney start-up into a global company helping small businesses from London to Los Angeles benefit from crowdsourcing their graphic design projects. “We’ve done well in Australia, now we want to take on the world and Starfish is the perfect partner to help us succeed.”