A fast-growing HR software platform that helps firms to manage the performance of employees in different locations has tripled revenues and doubled its customer base in the last 12 months.
StaffCircle, which has raised a further £3 million from existing investors Blackfinch Ventures and the MEIF Proof of Concept & Early Stage Fund – which is managed by Mercia and part of the Midlands Engine Investment Fund – was founded in 2017 by serial entrepreneur Mark Seemann.
The Leicester-based firm enables companies to save time and maximise productivity by engaging employees, building a strong company culture and creating exceptional employee experiences.
The company uses its own platform to manage its own growing workforce of around 45 staff, some based in Leicester and others at locations around the UK.
The move to hybrid working has helped fuel the company’s growth: in the previous financial year to the end of March, revenues topped £800,000, with the company on course to break through the £1m mark in the coming months.
StaffCircle has also 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.
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.
“With hybrid working here to stay, companies need the right technology to manage and motivate teams in different locations,” said Seemann. “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.”