Hello Remote-First World. Turing Is Now a Unicorn 🦄
The last 12 months have been an incredible ride. If I had to sum it up in one word, it would be hypergrowth. Today, we’re happy to share with the world that we’ve raised our Series D financing round, bringing our total raised to over $140 million and Turing’s valuation to more than $1 billion. Turing has entered unicorn territory, scaling rapidly since our Series B in November 2020.
We Grew 9x Over the Last 12 Months
Our unicorn journey came as a result of fast growth on multiple fronts. Our developer pool grew 9x, increasing our developer community to over one million. Hundreds of companies now build on top of Turing including Coinbase, Johnson & Johnson, Rivian, Redbull, and Reddit.
We Partnered With World-Class Investors to Grow Even Faster and Build a Category Defining Company
WestBridge Capital, our Series B lead investor, also led our Series D financing round. Our seed round lead investor, Foundation Capital, and new investor, StepStone Group, also participated. WestBridge Capital is a $7 billion fund with deep expertise across SaaS and IT services. They have invested in global IT service companies such as Cognizant Technology Solutions and Global Logic. With under $4 billion under management, Foundation Capital, has invested in companies like Netflix, Uber & Solana. Greenspring Associates is a late-stage growth equity fund with $22 billion under management with investments in leading talent clouds like WorkRise (RigUp) and Trusted Health.
It’s been great partnering with Sumir Chadha, co-founder and MD of WestBridge Capital, and Ashu Garg, General Partner at Foundation Capital, on our Board. We’re delighted to welcome John Avirett from StepStone Group, whose strong thesis on the power of verticalized talent clouds made StepStone a natural fit.
Other investors in the round include AltaIR Capital, HR Tech Investments LLC (an affiliate of Indeed), Brainstorm Ventures, Frontier Ventures, Modern Venture Partners, and the Plug and Play Scale Fund.
Turing’s oversubscribed unicorn round raised over $140 million in capital. A subsequent SAFE opened at a $4 billion valuation cap is also oversubscribed.
We Are Building a World-Class Team
The incredible team at Turing has worked super hard to reach this significant milestone. This success would not have been possible without the impactful contributions of the Turing team (including our executive team – my co-founder Vijay, Zan, Prakash, Sudarshan, Akshay, Cathleen, Eric, Deepak, Aditya), our board, our investors, and our amazing customers and developers. We are especially grateful to our early customers, developers, and team members who took a bet on Turing and believed in our mission from the very beginning. Thank you.
If this sounds like fun, join our growing team! Email [email protected] or check out our open jobs here. We’re hiring for product, growth, engineering, data science, sales, marketing, operations, and finance.
Turing’s Growth Has Accelerated in a Remote-First World
Now every company is in a race to reap the benefits of remote engineering talent.
But remote is hard and traditional solutions weren’t built for this.
Headhunters and staffing agencies lack global reach and have no specialized vetting for engineers. Recruiting marketplaces provide hit or miss quality, lack vetting, and are gig-focused, making them unable to attract the best talent. IT services companies are limited to sourcing from local talent pools rendering them incapable of attracting the best talent.
We asked ourselves a simple question: could we replace all of this with software? And we did.
Turing’s Intelligent Talent Cloud Helps Companies Easily Hire the Best Software Developers in the World
- Sources engineers planet-wide and vets them to a Silicon Valley standard.
- Leverages AI to optimize the matching of developers with companies.
- Makes it easy for companies to manage and collaborate securely with remote talent.
Turing’s creating a new category, that we call the Intelligent Talent Cloud. It’s a distributed team of developers in the cloud, sourced by software, vetted by software, matched by software, and managed by software.
Turing does all the heavy lifting intelligently through sophisticated machine learning.
Software-driven intelligence is present in Turing products such as automated smart vetting, where machine learning algorithms determine how to best vet a developer on various skills and levels. Similarly, our matching process also leverages AI for search ranking to choose the best developers to recommend for any open job.
Join Us on Our Mission to Unleash the World’s Untapped Human Potential
Before Turing, an individual’s ability to contribute to the world was limited by geography. Today, if you’re a talented software developer you can work for the best companies in the world, not just the ones near your home. Instead of people moving to where the jobs are, the intelligent talent cloud brings jobs to the developer. Bridging this talent-opportunity gap and eliminating the geo lottery is good for the world. I am excited for all the new amazing inventions, products, drugs, tools and innovations we will see as a result of this shift.
We have an opportunity to build a once in a generation company. We are experiencing a generational shift in the way we work, right before our eyes. We are fortunate to be building a platform right at the heart of this shift.
Let’s make the world a better place by unleashing the world’s untapped human potential.
Join the Intelligent Talent Cloud Movement
Jonathan, Founder & CEO
P.S.: We are fortunate to partner with an incredible set of investors who have been super helpful at every step of our journey.
Thank you for being awesome partners 🙏 – WestBridge Capital, Foundation Capital, StepStone Group, Modern Venture Partners, HR Tech Investments LLC, Frontier Ventures, AltaIR Capital, PNP Scale Fund, Mindset Ventures, Founders Fund, Chapter One Ventures, Plug and Play Tech Ventures, UpHonest Capital, Ideas & Capital, 500 Startups Vietnam, Canvas Ventures, B Capital, Peak State Ventures, CapitalX, Stanford StartX Fund, Amino Capital, Spike Ventures, Visary Capital, Brainstorm Ventures, Joint Journey, Gaingels, Adam D’Angelo, Gokul Rajaram, Cyan Banister, Beerud Sheth, Dmitry Chernyak, Lorenzo Thione, Manish Narula, Aditya Jami, Artem Bosov, Sanya Ohri, Maxim Shipilov, Mikhail Fisher, Steven Hellman, William Hughes, Josh Browder, Nirav Shah, Andy Raskin, Bakht Niyazov, Anes Kaldybayev, Christopher Nguyen & Ruby Chen, Dave Franke, Eduard Galyamov, Elena Petrova, Evgenii Prensniakov, Shariq Rizvi, Kirtika Ruchandani, Maksim Matcin, Manik Gupta, Marina Polskaya, Mykhailo Raitsyn, Nikolai Guzakov, Nikolay Kaginyan, Oleg Bogumirskiy, Solovev Sergeevich, Stephen Osborn & Meredith Osborn, Valentine Zavgorodnev, Timofei Andrianov, Anna Mikhaylova, Yanovskiy Oleg, Alevtina Beloglazov, Siqi Chen, Yi Ding, Sunil Rajaraman, Parakram Khandpur, Kintan Brahmbhatt, Cameron Drummond, Kevin Moore, Sundeep Ahuja, Auren Hoffman, Greg Back, Sean Foote, Kelly Graziadei, Bobby Balachandran, Ajith Samuel, Aakash Dhuna, Adam Canady, Steffen Nauman, Gordon Chang & Victoria Sandin, Sybille Nauman, Eric Cohen, Vlad V, Marat Kichikov, Piyush Prahladka, Manas Joglekar, Vladimir Khristenko, Tim and Melinda Thompson, Alexandr Katalov, Joseph and Lea Anne Ng, Jed Ng, Eric Bunting, Rafael Carmona, Jorge Carmona, Viacheslav Turpanov, James Borow, Ray Carroll, Suzanne Fletcher, Denis Beloglazov, Tigran Nazaretian, Andrew Kamotskiy, Ilya Poz, Natalia Shkirtil, Ludmila Khrapchenko, Ustavshchikov Sergey, Maxim Matcin, and Peggy Ferrell.
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