Blockchain-powered Start-up Nodal Labs Secures Significant Series A Funding
Nodal will use the funds for the further development of its platform – with an official launch in Spring 2019 – as well as expanding the organisation's mergers and acquisitions strategy.
Founded by Oliver Hibbs-Brockway, a UK-based technology entrepreneur, Nodal is a fully-automated talent platform that aims to dramatically reduce the amount of time and money spent on recruitment, onboarding, payroll and management for both freelancers and employers.
Developed to reinvent the recruitment process by creating a fairer, more transparent system for both freelancers and their clients, Nodal uses a custom-built blockchain to record and verify all transactions. Using blockchain, the platform will seamlessly automate timesheets, the on-boarding of freelancers and compliance, while guaranteeing that the skills and experience quoted matches those of the candidate – with data kept securely on a decentralised ledger.
Commenting on the announcement, Oliver Hibbs-Brockway, Founder and CEO of Nodal Labs, said:
"Nodal has been built on trust. We are disrupting the freelance economy to forever change the way people work and interact with each other; and how trust is earned. Everything we do is about putting employers and freelancers on an equal footing – building relationships that start well and flourish.
"Through this Series A, Nodal is investing in experienced excellence in terms of UI, UX and platform security. It also allows us to execute an aggressive M&A strategy within multiple industries."
Barry Hudson, Director of ABH Management LLP, added:
"Partnering with Nodal on its journey towards transforming the recruitment market is very exciting – and we are enormously proud to be a part of this journey. The vision and mission of the organisation is one we believe will have a lasting impact on the way the employment market operates; empowering freelancers to realise the full value of their skills while providing peace of mind for organisations who are struggling to find the verified talent they need to grow. Combined with the incorporation of blockchain technology on such a sound commercial use, Nodal is a hugely impressive prospect.
"We look forward to working with Oliver and his team for many years to come."
As part of ABH Management LLP's investment in Nodal Labs, Barry Hudson will join the company's board as a director. Hudson will sit alongside Jamie Smith, a Partner at Sheridans, a leading UK law firm specialising in the advertising, digital and interactive media industries.
The platform will launch across the Creative, VFX, Film, Construction, Property and Engineering sectors in Spring 2019. Further sector expansions are planned.
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