Newcastle 'employee voice' platform secures £500k funding to accelerate growth
A North East human resources software company has announced that it has secured £500k of funding to accelerate its roadmap and support its digital presence.
HiveHR, based in Newcastle, has received £500k from a funding round led by the North East Development Capital Fund (NEDCF) managed by Maven Capital Partners, which invested £250k.
A further £250k has been invested by the Future Fund, a government backed scheme supported by the British Business Bank.
The funding, which follows six months of growth for the company, will be used to drive the company’s renewed focus on outbound sales, which it says will support its expanding digital presence.
HiveHR is an employee voice platform, which is currently used by brands such as River Island, Hermes and Travelodge.
John Ryder, founder and CEO of Hive HR, said: “The pandemic has placed the spotlight on some very distinctive issues that elevate the case for Employee Voice further—such as remote and flexible working, wellbeing, inclusion, and culture.
“So, it’s great that we now have even more resource to continue to grow the business.”
David Nixon, investment manager at Maven, commented: “Despite an incredibly challenging year, the Hive platform continues to provide a key service to more and more organisations as they evolve their remote working operation.
“Today’s transaction is a further testament to all that Hive has achieved since we originally invested in 2019 and our belief in the future growth of the company.
“John and his team have created a strong business and we look forward to working with them as they accelerate their development plans.”
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