Monday, May 10, 2021

HR platform for remote working raises £1.3m

A HR software platform which helps companies to manage remote workers has raised a further £1,275,000 to fund its rapid expansion.

StaffCircle has secured a further £1m from Blackfinch Investments, with the additional funding coming from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund, and private investors.

The Leicester-based company has tripled its revenue since the first lockdown a year ago and begun to expand its customer base into the US and Middle East. The funding will allow it to further enhance its platform, create seven new jobs and scale the business in the run-up to a Series A fundraising in the year ahead.

StaffCircle’s platform was founded in 2017 by serial entrepreneur Mark Seemann. It currently employs 20 staff.

The latest investment round is the second by Blackfinch, which made an initial £670,000 investment in May last year, and the third by MEIF, which has invested £750,000 to date.

Mark Seemann, the CEO, said: “In a world of remote working, managing employee performance has never been more challenging. StaffCircle introduces new levels of structure and visibility, connecting employees and helping teams to meet targets. The latest funding round demonstrates the confidence our investors place in us and will enable us to roll out the platform to many more companies.”

Richard Cook, CEO and Founder at Blackfinch, added: “StaffCircle has created an impressive offering in a growing market, through efficient product development and a solid sales strategy. The decision to invest further funds was an easy one to make, not least because the company exceeded their revenue projections last year. The experienced team are highly driven and we look forward to helping them on their journey towards success.”

David Baker of Mercia added: “StaffCircle created a platform for remote working before it became the norm. The Midlands Engine Investment Fund has supported the business from an early stage. With working from home now an established practice, this latest funding will help Mark and his team to take advantage of the growth opportunities and take the business to the next level.”

Jamie Partington of Higgs & Co provided legal advice to Mercia on the deal.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close