A fast-growing HR software platform that helps firms to manage the performance of employees in different locations has raised a further 拢3 million 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.聽
The latest investment round, which brings the total funding raised by the company to date to 拢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鈥檚 growth. In the previous financial year to the end of March, it has almost tripled its annual revenue bringing it to over 拢800,000, and is on course to break through the 拢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.聽
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.
鈥淲ith hybrid working here to stay, companies need the right technology to manage and motivate teams in different locations,鈥� said Seemann. 鈥淪taffCircle 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.聽
鈥淭he latest funding round will help us to build momentum and take the company to the next level.鈥�
David Baker, investment manager at Mercia, said: 鈥淪taffCircle鈥檚 focus on managing remote workers has helped to differentiate it from competitors and achieve significant growth.聽
鈥淭he 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聽 employee聽 experience聽 software.鈥�