1st October 2024 Manchester, UK — Cytix, a tech startup from Manchester and a past customer of SkilledUp Life has secured £1.6 million in seed funding. The backing came in a round co-led by NPIF II – Praetura Equity Finance managed by Praetura Ventures and is part of the Northern Powerhouse Investment Fund II.
After its founding in 2022, Cytix, like many early-stage tech startups, survived by self-funding and bootstrapping. Despite its limited funds, the cyber security technology company grew by accessing the skilled volunteer talent from SkilledUp Life, something it could not have otherwise obtained.
Cytix co-founder Thomas Ballin said,
“SkilledUp Life was a great way to punch above our weight by acting as a force multiplier, giving us access to talent that a fledgling startup like ours would never normally get access to,”
Upon hearing of the success story, Michael Livingston, Founder and CEO of Manchester-based tech startup DustID said
“As a self-funded and bootstrapping start-up, having access to the most important resource within any organisation, talent, is essential. SkilledUp Life has allowed me to expand and scale my operation whilst adding value to the career experience of the volunteers”.
Other self-funded and bootstrapped tech startups from Manchester leveraging SkilledUp Life’s 50,000+ skilled volunteer talent pool include Orakly founded by Craig Taylor and Mutuals founded by Eddy Davies.
Manoj Ranaweera, the Tech Founder behind SkilledUp Life said,
“It is extremely hard to raise investment with an idea nowadays. It’s much better to keep your head down, validate the idea, build your initial product, gain customers and grow revenues by assembling teams of volunteers from SkilledUp Life to supplement the founding team before starting the fundraising journey. This is exactly what Cytix did over a 20 months period. Having done our part, I look forward to watching their continuing growth”
About SkilledUp Life
SkilledUp Life is a two-sided marketplace that helps early-stage tech startups de-risk their businesses. It connects them to an online platform with over 50,000 skilled volunteers from 140 countries. Early-stage tech startups that often operate with limited budgets gain access to the talent needed to validate ideas, build their products, acquire users and convert to customers, generate revenues, and provide support without the financial burden of paying salaries.
Volunteers commit 2 to 3 hours per day for 60 volunteer days over a 3 month Volunteer Agreement. We support all ages above 18 years including semi and full retirement. Youngsters gain an opportunity to add real experience and skills to their CVs. Those in their 30s and 40s gain the experience for career transitioning. Semi-retired and retired get opportunities to give back and enjoy being involved in a young tech startup.
For more information on SkilledUp Life, please visit our website www.skilledup.life.
