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Cloud-based hiring platform Invenias secures a further £1.9m in funding

Invenias, the tech firm who specialise in executive and strategic hiring through its cloud-based platform, has announced that it has secured an extra $2.8m (approx. £1.9m) in funding.

The funding sees existing investor MMC Ventures contribute $1.1m (approx. £764k) of new equity, along with $1.7m (approx. £1.18m) of debt funding from Clydesdale & Yorkshire Banks.

Founded in 2005, the Reading-based firm have developed a cloud-based platform that allows clients to search for executives as part of their hiring process, and now has 750 customers with offices in the UK, US, Europe and Asia.

The firm is planning to use the new funding to fuel its continued growth in North America, as well as allowing it to invest more in research and development and support its current customer base.

David Grundy, Invenias Chief Executive Officer, said: “One of the key reasons our customers opt to deploy the Invenias platform is because of our strategy of continuous innovation.

“We have seen tremendous demand for our software in the North American market in the last 12 months, with prestigious firms such as ON Partners in Boston, The Toft Group in San Diego and Conroy Ross Partners across Canada, all choosing to run their business on Invenias.

“This funding package will enable us to meet our growth ambitions as it will empower us to invest in our platform, our infrastructure and scale with our customers.”

Jon Coker, Managing Partner at MMC Ventures commented, “We continue to be impressed with what the Invenias team have achieved since our initial investment and see a huge opportunity for the business as they accelerate expansion in the North American market.”

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