A Leicester-based HR software platform which helps firms 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 brings the total funding to £5m, which will allow the company to enhance its platform, expand its global reach and create ten additional jobs.
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.
Founder and chief executive Mark Seemann 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.
“The latest funding round will help us to build momentum and take the company to the next level.”
David Baker, investment manager at Mercia, added: “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.”
Investment company Blackfinch previously backed StaffCircle with £1.76m two years ago.
Dr Reuben Wilcock, head of ventures at Blackfinch, said: “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.”