Leicester-based StaffCircle is an HR software platform that helps businesses manage remote workers. The company has now raised an additional £ 1.3 million to fund its rapid expansion.
Eyes to expand business
StaffCircle’s investment The round was led by Blackfinch Investments for £ 1m. The additional funding was from MEIF’s proof-of-concept and early stage funds, managed by some of the Mercia and Midlands Engine Investment Funds, as well as individual investors.
The latest investment round is the second by Blackfinch, First £ 670,000 investment in May last year. It is also the third by MEIF, which has invested £ 750,000 so far.
With this funding, the company will be able to further strengthen its platform, create seven new jobs, expand its 20-person team and expand its business with the aim of raising Series A funding next year.
CEO Mark Seemann said: StaffCircle introduces a new level of structure and visibility to connect employees and help teams reach their goals. The latest funding round shows that investors are confident in us and will be able to deploy the platform to more companies. “
Richard Cook, CEO and Founder of Blackfinch, said: “Staff Circle has created impressive products in a growing market through efficient product development and a solid sales strategy. The decision to invest more money is easy, especially as the company outperformed last year’s earnings forecast. The experienced team is very ambitious and looks forward to helping them on the road to success. “
David Baker of Mercia said: “Staff Circle created a platform for remote work before it became the norm. The Midlands Engine Investment Fund has helped businesses early on. Telecommuting is now an established practice and this latest. Funding helps Mark and his team take advantage of growth opportunities and take their business to the next level. “
Revenue increased during the blockade
StaffCircle was founded in 2017 by serial entrepreneur Mark Seemann. This platform helps businesses interact more effectively with employees in different locations, improve performance, and minimize administrative time. Since the blockade last year, the company has tripled its revenue and began expanding its customer base in the United States and the Middle East.
Leicester-based Staff Circle has £ 1.3m in its pocket on a remote employee management platform
Source link Leicester-based Staff Circle has £ 1.3m in its pocket on a remote employee management platform