A proptech company which aims to be the ‘Airbnb for shared living’ has raised over £500,000 in additional funding from existing investors.

Worcester-based COHO has secured investment 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 funding will enable it to scale the platform, strengthen its management team and continue its rapid growth.

COHO is the only platform of its type specifically designed for houses of multiple occupation (HMOs). It allows property investors to manage their portfolio and tenants to find a house share with like-minded people.

The platform was launched in 2021 by serial entrepreneurs Vann Vogstad and Liam Cooper and inspired by Vann’s own experience of living in shared housing. In the past 12 months it has seen a ten-fold increase in annual recurring revenue.

The platform, which is now used by almost 200 landlords and lettings agents, is growing by around 20% month on month. The latest funding brings the total raised by the company to £750,000 and will help it continue its growth trajectory with the aim of raising a Series A funding round in the next 12 months.

Vann, who is the company’s CEO, said: “We set out to change the perception of co-living to make it a positive choice for people of all ages. However we recognised that what was lacking was a platform that made house sharing easier to manage for both landlords and tenants. COHO aims to fill that gap. The latest funding will allow us to continue our growth journey and establish it as the Airbnb for shared living.”

Kiran Mehta, Investment Manager at Mercia, said: “With people renting for longer, co-living is a growing trend. COHO is the only property management platform specifically designed for the sector and the rapid growth in uptake demonstrates the need for it. Vann and the team have made remarkable progress in the space of one year. We look forward to working with them to make it the clear leader in its field.”

Gary Woodman, Chief Executive of the Worcestershire Local Enterprise Partnership, said: “I am really pleased to see Worcestershire business, COHO, raising additional investment to support their rapid growth plans. The organisation was part of our BetaDen Technology Accelerator programme and the team have continued on their growth journey since completing the programme and it is excellent to be able to celebrate their investment success twice in the last 6 months. With this investment, the organisation will be able to expand their team and platform, both playing a key role in boosting the local economy.”

Mark Wilcockson, Senior Investment Manager at the British Business Bank, said: “The Midlands Engine Investment Fund is committed to backing innovative regional companies with global ambition. COHO is the perfect example given its strong performance since the first funding round from MEIF. Access to finance is a crucial aspect of helping companies such as COHO to fulfil their potential, and we encourage other Midlands tech companies to consider MEIF funding.”

The Midlands Engine Investment Fund is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Intechnica – the Manchester-based tech company which is backed by Mercia – has spun off its cybersecurity arm Netacea as a standalone company.

The separation follows a period of significant expansion for both businesses and aims to support their further growth. Intechnica provides digital transformation programmes for businesses looking to modernise their technical capability or benefit from the use of data science. Founded in 2006 by Jeremy Gidlow and Andy Still, it now employs over 70 people.

Netacea, which it started in 2018, detects bot attacks that target mobile, web and API applications. It now employs a 100-strong team and supports some of the world’s biggest brands including two of the top 10 global retailers and three of the world’s largest telecommunications networks.

Following the last investment round of £8.5m in December 2021, Mercia held a 50.6% stake in Intechnica, with 24.1% coming from its direct funds and the remainder from its Northern VCTs, the Northern Powerhouse Investment Fund (NPIF) and the North West Fund for Venture Capital (NWFVC). Mercia’s holdings in both companies will be equivalent to its previous holding in the combined group.

Jeremy Gidlow (pictured), CEO of Netacea, said: “Thanks to the support of our investors, Netacea looks forward to another year of explosive growth and innovation. It’s an exciting time for Netacea as we continue our growth into the US market, coupled with adding more experience to our senior leadership team.”

Julian Viggars, CIO of Mercia, commented: “Netacea was recently named by Forrester as a ‘Strong Performer’ in its 2022 Bot Management wave. It has seen explosive growth thanks to the strength of its team, business model and the rapidly growing demand for cybersecurity solutions. By separating Netacea from Intechnica to a standalone company, it will benefit from a more specialised focus that will help it further capitalise on significant growth opportunities. In Netacea and Intechnica we have two exciting businesses and we look forward to continuing to support them both through their next stages of growth.”

Sean Hutchinson at British Business Bank, said: “It is very positive to see how funding from the Northern Powerhouse Investment Fund has contributed to the success and rapid expansion of Intechnica and its subsequent spin-out Neteacea. It’s a great example of how growth finance can make a significant and measurable difference to fast-growing businesses across the Northern Powerhouse region, creating a more prosperous regional economy.“We are pleased that NPIF has continued to support high-growth businesses in the North, providing vital funding to enable job creation and expansion into new markets.”

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

 

A remote technology company which has trebled in size in the past two years has raised a further £480,000 to help it expand into new markets.

Plexus Innovation, which is based in Durham, has secured £300,000 investment from the North East Venture Fund (NEVF), supported by the European Regional Development Fund and managed by Mercia; and £180,000 from the Finance Durham Fund, managed by Maven Capital Partners, established by Durham County Council and overseen by Business Durham.

Plexus Innovation’s GUARDIAN® technology remotely monitors and measures temperature, CO2, humidity and water systems, enabling insight-driven decisions, reduction of energy use and provision of real-time data for use in compliance reporting. The system also provides automated alerts to highlight potential health risks or failing assets that otherwise may be overlooked.

GUARDIAN® is being used by clients in sectors such as social housing, education, health and care, with clients including believe housing, North Star Housing Group and Careline Lifestyles.  The funding will enable co-founders Ian Murray and Steve Toddto accelerate product development and boost market penetration in other sectors including manufacturing, leisure and hospitality.

The latest investment follows a £400,000 funding round in 2020. Since then the company has tripled to employ an eight-strong team and is planning to create 2 new jobs in the coming months.

Alex Simpson, investment manager at Mercia, said: “Plexus Innovation is on a mission to replace manual measurements and make remote monitoring the norm. The initial funding round enabled Steve and Ian to build their team and establish their presence within the social housing and care sectors. The latest investment will enable them to roll it out to a much wider range of clients.”

Michael Dickens, Investment Manager at Maven, said: “Plexus Innovation has developed an innovative proprietary product that addresses legislative issues, pushing compliance and asset management into the 21st Century. The remote technology is attracting high profile clients focused on Net Zero, business improvement and delivering better service to tenants, residents, patients, pupils or their own customers.  This means the market opportunity is significant.”

Ian Murray, founder of Plexus Innovation, said: “We are successfully rolling out our innovative GUARDIAN® technology across a range of sectors and our current clients have uninterrupted compliance management delivered remotely. Providing a digital alternative to manual checks, GUARDIAN® is proven to be cost effective, reliable and accurate. It provides real-time data with a full audit trail, reduces risk and detects a range of key issues not possible via manual measurement.

“This investment means we can now roll out GUARDIAN® even further, helping more finance, environment, compliance, healthcare, facilities managers and maintenance teams to do their job better. We will also enable an instant and significant improvement for those on the road to Net Zero.”

Cllr James Rowlandson, cabinet member for resources, investment and assets at Durham County Council, said: “We are delighted to be supporting this innovative company as they continue to grow in Tanfield Lea Business Centre.  Through the support from Finance Durham, we can ensure enterprising businesses with dynamic ideas, like Plexus Innovation, have the right means to grow in County Durham.  Since we declared a climate emergency, we have been actively seeking practical support for our business community to enable them to reduce their carbon footprint, its fantastic to hear that Plexus are able to help companies meet their low carbon ambitions.”

 

A proptech company which aims to disrupt the lettings industry has raised £750,000 to help establish itself as the leading rental platform for landlords and tenants.

lettingaproperty.com has secured investment from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund, and Mercia’s EIS funds.

The funding will enable it to further enhance its technology and build its subscriber base in the run-up to a Series A investment round next year. The company, which is based in Henley-in-Arden, plans to create around 15 new jobs in the next 18 months.

lettingaproperty.com is one of the UK’s longest established online lettings companies and offers landlords a full suite of services including finding tenants, digital referencing, tenancy creation, rent protection and home emergency cover. It claims that its landlords save on average 50% compared to the cost of using a high street lettings agency.

The company was founded in 2008 by Jonathan Daines, who was previously lettings director for a high street estate agency chain, and his brother Matthew, former director of quality for Singapore’s Marina Bay Sands hotel with Kevin Neary, co-founder of games retailer GameStop Group, as Chair. As part of the deal, Matthew Farrow – the former finance director of online estate agency PurpleBricks – has been appointed as Interim Finance Director to oversee future business scaling.

lettingaproperty.com increased subscribers by 100% in 2021, raising revenue to over £1m and is on course to reach £1.6m in the current year. It now manages almost 1,500 rental properties across England, Scotland and Wales.

Jonathan Daines, the CEO, said: “Our ambitious vision started back in 2008 and is gathering real momentum, supported by this investment plus key board appointments. We are excited about our future growth potential and the opportunity to disrupt the traditional high street lettings model. We aim to make renting out your property long-term as easy as filling your holiday let on Airbnb, and become the go-to choice when renting out property.”

Stephen Windsor of Mercia added: “Jonathan has used his experience in property management to digitally enhance each step of the tenancy journey. lettingaproperty.com is one of the longest-established rental platforms and is unique in that its technology is backed by an experienced lettings team. The investment will enable the company to scale the business faster and cement its position in the market.”

Ken Cooper, Managing Director at the British Business Bank, said: “The MEIF continues to back innovative companies looking to expand and develop within their industries. This funding will support the creation of new jobs in the region, while allowing lettingaproperty.com to invest in expanding its tech offering. Other companies looking to follow a similar growth plan are encouraged to consider MEIF funding.”   

Sean Farnell, Board Director at Coventry and Warwickshire Local Enterprise Partnership (CWLEP), said:

“Leading innovation is one of the key pillars of CWLEP’s Strategic Reset Framework and it is important the area’s business community continues to develop and grow to attract investment and encourage cluster growth. Warwickshire businesses such as lettingaproperty.com are embracing digital technology to become leaders in their field and this new funding will play a pivotal role in their future expansion.”

The Midlands Engine Investment Fund is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

A Bradford-based importer, distributor and retailer of confectionery has received a further investment of £500,000 from NPIF – Mercia Debt Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund (NPIF).

Candy Hero was founded in 2008 by brothers Frank and Leo Dillon, both former web designers. The business has quickly grown in size and now stocks one of Europe’s largest ranges of mainstream American candy. It also sells British retro sweets, energy candy, Jelly Belly, Japanese snacks, gifts, and other novelty and specialist items, boasting a range of over 20,000 products.

NPIF first invested £250,000 in Candy Hero in 2020 when it was generating £5.7m in turnover. Since then, turnover has almost trebled to reach £15.7m in December 2021 and an increase of £3m is anticipated this year.

Candy Hero has recently moved to a 20,000 sq ft premises, which accommodates a larger stock selection in response to the growing demand from its business customers. The funding will support the business to create seven new roles and further capitalise on its position as one of the UK’s top three importers of confectionery.

David Wright, Investment Manager at Mercia, said: “I’ve known Frank for four years, having worked with him so closely during that time. Naturally, I am very enthusiastic about their continued growth especially as this is a family-owned regional business. The co-founders, who are brothers, make a strong team who are committed to the continued investment into the business and its people. I look forward to seeing where this great regional business goes next.”

Frank Dillon, co-founder of Candy Hero, said: “We’ve experienced phenomenal growth over the past two years. The initial loan from NPIF – Mercia was the catalyst for this journey. I was delighted when NPIF and Mercia’s David Wright were able to support my request for an additional £500,000 of funding. This further investment has made a huge difference to the company and is supporting us as we drive the business forward, scale our operations and hire staff.”

Sean Hutchinson at British Business Bank, said: “Candy Hero has seen phenomenal success since the Northern Powerhouse Investment Fund first invested, and continues to see its revenues grow. Its story since then demonstrates how funding can make a real and measurable difference, providing vital funding to enable job creation and expansion into new markets. In turn, this helps create a more prosperous regional economy.”

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

A  Newcastle cybersecurity business with an automated software that helps SMEs detect vulnerabilities in their IT system has raised £350,000 from the North East Venture Fund (NEVF), supported by the European Regional Development Fund and managed by Mercia.

Melius Cyber’s platform monitors an organisation’s IT network around the clock, testing security and protecting it from the latest threats. CyberSafe automates the process of vulnerability scanning and penetration testing, in which cyber experts simulate attacks to detect weaknesses in the system.

The platform was developed specifically for SMEs and aligns to Cyber Essentials, the government-backed accreditation scheme that shows businesses take cybersecurity seriously. It helps businesses to gain accreditation by showing they have monitoring in place and can meet the criteria.

The funding will enable Melius Cyber to boost its sales and marketing to expand its client base and to further develop the platform, including adapting it to meet the needs of financial services and other FCA-regulated firms. The company, which currently employs eight staff, is planning to create five new jobs in the next six months.

Melius Cyber was founded in 2019 by Dave McPherson, a former IT specialist with the Bank of England. The company is a spin-off from Melius Group, the Newcastle-based IT services business he founded seven years earlier.

Richard Brown, CEO of Melius, said: “Cybersecurity is a growing problem for businesses, particularly with the rise in home working, and it is no longer enough to rely on off-the-shelf solutions such as spam filters and firewalls. Big companies regularly stress test their network, but the cost is prohibitive for smaller firms.

“CyberSafe overcomes this problem by providing a 24/7, year-round service for the price of a one-off penetration test. The funding will enable us to roll out the system and help safeguard many more businesses.”

Ian Wilson, Fund Principal at Mercia, said: “CyberSafe fills a gap in the market for a product that provides security testing at a price that SMEs can afford. It not only helps them prevent attacks, but also to comply with recognised standards and provide reassurance for customers and suppliers. The investment will help Richard and the team to target the growing cybersecurity market.”

 

A university spin-out which has developed a device that provides early diagnosis and monitoring of Parkinson’s disease has raised £1.6m to help bring it to market.

SERG Technologies has secured investment from Mercia, Velocity Partners, Newable, the Imperial College Innovation Fund,  a leading Japanese corporation and private investors. The funding will help the business to achieve regulatory approval to launch the system in the UK and US, and work on a potential treatment.

Parkinson’s disease, which affects around 10 million people, is the world’s fastest growing neurological condition, and costs over $70bn a year to treat. It is usually diagnosed by neurologists observing the main symptoms – stiffness of the limbs, tremor and slowness of movement. SERG’s technology, which uses acoustic sensors to detect movement and assess the state of the patient’s muscles, provides a more objective way to identify the symptoms and measure the severity.

Its NuRO platform could not only provide early diagnosis, but also be used for continuous monitoring of patients to help doctors to manage their disease more effectively.There is also potential to use the devices to deliver electrical stimulation of the patient’s muscles to help relieve the symptoms.

SERG was founded in 2019 by Dr Ravi Vaidyanathan and Dr Sam Wilson, based on their research at Imperial College, London. The London-based company raised £450,000 from Velocity Partners and angel investors in the same year to develop the initial platform and begin clinical trials.

Over 100 patients have taken part so far, including the former BBC technology correspondent and Parkinson’s patient Rory Cellan-Jones, with initial results providing positive data. The company has also won a total of £1.5m to date in grant funding.

Dr Christos Kapatos, the company’s CEO (pictured), said: “More people are being diagnosed with Parkinson’s and increasingly at a younger age. The disease is incurable, debilitating and expensive to treat. Our connected platform enables remote, patient-specific assessment of all motor symptoms and delivers actionable insights that optimise treatment and promote lifestyle changes, thus increasing patient mobility and independence. Our vision is to enable people with Parkinson’s and other neurodegenerative diseases and movement disorders to live healthier lives.”

Mercia invested from its EIS funds. Rob Bennett of Mercia said: “One of the current frustrations in treating Parkinson’s disease is that patients are assessed on their symptoms, with a lack of objective data. While there are powerful drugs that can ease the symptoms, it is difficult for doctors to get the right dose or develop better treatments because there is no effective ‘yardstick’ to measure patients’ condition. SERG’s technology could transform treatment by unlocking insights into the disease by providing real-time, continuous feedback.”

 

 

A Sheffield company which provides advanced ‘nurse call’ systems for care homes has secured an £850,000 investment from Traditum Private Equity and NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund (NPIF).

This latest round of funding will enable Arquella to expand its sales and marketing team and target the growing residential care home market across the UK and Europe. Arquella provides its cloud-based advanced nurse call system for adult social care services under the brand AIDA. The proprietary system encompasses app-based and hand-held devices which aggregate data to provide carers with real-time information on their residents’ needs, maximizing the time they spend with residents and improving care quality.

This unique technology provides an efficient management system for care home teams to not only create and deliver planned care but to accurately record and continually monitor reactive care in real time.  Using AIDA, carers are requested to specify the type of care provided at the time of delivery, recording key information which reduces administration and enables care teams to optimise response times, manage resource requirements and record care in line with Care Quality Commission standards.

The cloud-based system can be provided on a subscription model, reducing costs and enabling care services of all sizes to benefit from evolving digital technology. Arquella’s software integrates with the sector’s leading care management software providers and with existing hardware infrastructure to provide real time reporting that is transformative for a fast-growing care sector which is under considerable resource pressure.

Founded in 2017, Arquella received an initial £350,000 investment from NPIF – Mercia Equity Finance in 2020 to enable it to further develop the technology. The platform is currently used in 26 care homes with over 869 care beds.

There are currently 480,000 care beds in the UK and 3.8 million in Europe, with both figures set to rise significantly in line with the ageing population.

Steven Holmes, Commercial Director at Arquella, said:

“We’re extremely pleased to receive further investment from Mercia, with whom we have always enjoyed a strong and supportive relationship, and we’re very excited about our new partnership with Traditum.  To have our progress and vision recognised and bought into by an investor with so much experience in the healthcare technology space is a huge compliment.”

The investment in Arquella is the first from Traditum’s dedicated health technology team. Iain Marlow, Head of Investments at Traditum, said:

“The management team of Arquella have created a truly differentiated system which is able to provide greater oversight and effective management of care to residential and domiciliary patients. We are pleased to be joining the business at this exciting stage of development and look forward to supporting the business to improve patient care.”

Dan Thomas, Investment Manager at Mercia, said:

“Care homes are a fast-growing market but the sector still relies largely on old-style technology. Arquella’s next-generation systems offer huge potential to reduce the burden on carers and use data to improve safeguarding and efficiency. Having supported the company since 2020, we are delighted to welcome Traditum as a new investor to help the business to scale up more quickly.”

Sean Hutchinson at British Business Bank, said: “The Northern Powerhouse Investment Fund is pleased to have supported a company providing a crucial digital offering to the care sector. The positive impact it has for its customers is something that NPIF is proud to be a part of, and we look forward to seeing how the latest investment will take them to the next level in their growth journey.”

Mick Morris of Compellor provided fundraising advice to Arquella on the latest investment. Andrew O’Mahony and Daniel Hayhurst of Brabners provided legal advice to Traditum.  Jim Gribbon and Andy Sims of Venture Axis provided software diligence advice to Traditum.

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

A fast-growing employee engagement platform has raised £1.5m for international expansion in an investment that is set to create 15 new jobs.

WorkBuzz has secured the funding from its existing backers Mercia and Foresight, both of which invested via the Midlands Engine Investment Fund (MEIF), alongside funding from private investors.

The Milton Keynes-based company has more than doubled the size of its team since the original investment in March 2021, and now employs 35 staff, with plans to create an additional 15 jobs by the end of the year. Revenue has also more than doubled to £2m, while annual recurring revenue is continuing to grow by around eight per cent a month.

The latest funding will enable WorkBuzz to expand its sales and marketing team and ‘internationalise’ the platform, by adding new features and languages in preparation for further expansion, having already attracted a range of new clients in Australia. The company is planning a Series A fundraising in 2023.

WorkBuzz was launched in 2018 by Steven Frost who had previously run an employee engagement consultancy. It is now used by clients including Shell Energy, Premier Foods, HS2, Hovis and restaurant chain Five Guys.

The platform helps organisations to gather real-time feedback from their people, improve employee experience and build a more inclusive culture. HR managers are able to launch surveys in minutes, while algorithms help them analyse responses and highlight any areas for potential improvement.

NED Network Focus…Interview with Jeremy Tipper (WorkBuzz)
The Mercia Podcast with WorkBuzz’s Dawn Smedley (Ep 13 – Tackling Loneliness)

Steven Frost, CEO of WorkBuzz, said: “Here at WorkBuzz, we are on a mission to help organisations create cultures where every voice matters and every person can be their best. With generational talent shortages, fundamental shifts in how millions of people work and changing employee expectations, we’re excited to use the funding to amplify the difference we can make, faster.“

Stephen Windsor of Mercia added: “Organisations today not only face the challenge of managing remote workers, but also finding and retaining staff in a very tight labour market. WorkBuzz helps them to meet the challenge. With uptake of the platform growing rapidly in the UK, the latest funding round will help the company prepare to launch it on the global stage.”

Mark Wilcockson, Senior Investment Manager at the British Business Bank, said: “The MEIF supports Midlands-based businesses with ambitions to grow their international presence , and WorkBuzz is a perfect example of this. Through the funding, companies can help to upskill the wider Midlands region by creating new jobs and expanding into new markets.”

Vicky Hlomuka, SEMLEP’s Growth Hub Manager, said: “It’s incredibly encouraging to see so many businesses in our area securing the investment they need to continue to grow, innovate and diversify. WorkBuzz is a fantastic example of this, providing a highly valuable service that makes organisations not only more efficient but more inclusive and more attractive to job seekers.”

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

 

 

A fast-growing HR software platform that helps firms to manage the performance of employees in different locations has raised a further £3m from existing investors.

StaffCircle has received funding from Blackfinch Ventures and the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund. The latest investment round, which brings the total funding raised by the company to date to £5m, will allow it to enhance its platform, expand its global reach and expand its team by creating 10 new jobs.

Leicester-based StaffCircle enables companies to save time and maximise productivity by engaging employees, building a strong company culture and creating exceptional employee experiences.

The move to hybrid working has helped fuel the company’s growth. In the previous financial year to the end of March, it has almost tripled its annual revenue bringing it to over £800,000, and is on course to break through the £1m mark in the coming months.

StaffCircle has more than doubled its customer base in the last year and now offers its services to 125 organisations from different industries including the Food Standards Agency, financial services firm finnCap, housing associations and NHS bodies, with international clients in the US and Canada.

StaffCircle was founded in 2017 by serial entrepreneur Mark Seemann, based on his own experience in managing remote teams. The company uses the platform itself to manage its own growing workforce of around 45 staff, some based in Leicester and others at locations around the UK. The latest funding round will also enable it to add new features including succession planning.

Mark Seemann, Founder and CEO of StaffCircle, said:

With hybrid working here to stay, companies need the right technology to manage and motivate teams in different locations. StaffCircle is helping an ever-increasing number of organisations to keep their employees connected and improve productivity. We are delighted to have continued support from our existing investors. The latest funding round will help us to build momentum and take the company to the next level.”

David Baker, Investment Manager at Mercia, said:

“StaffCircle’s focus on managing remote workers has helped to differentiate it from competitors and achieve significant growth. The company has already gained significant traction in the market, and this latest investment will take it closer to its goal of becoming the leading end-to-end provider of  employee  experience  software.”

Commenting on the follow-on investment from Blackfinch, which has previously invested £1.76 million in StaffCircle, Dr Reuben Wilcock, Head of Ventures at Blackfinch, said:

“We’re delighted to have led StaffCircle’s latest investment, and to be backing Mark’s vision for his platform, which is helping create a high-performance culture in companies around the world. We have witnessed StaffCircle’s impressive and consistent growth since we first invested in 2020 and are looking forward to supporting the team on the next phase of their journey.”

Mark Wilcockson, Senior Investment Manager at the British Business Bank, said:

“The MEIF continues to support growing businesses and this latest round of funding for StaffCircle will allow the company to once again scale up and create new jobs in the area. The investment in StaffCircle is the perfect example of how the MEIF can help growing businesses in the Midlands to expand and create a positive economic impact in the region.” 

The Midlands Engine Investment Fund is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.