A HR software platform which helps companies to manage their remote workers has raised over £1 million to fund its rapid expansion.
StaffCircle has secured a further £1m from Blackfinch Investments, with the additional funding coming from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund, and private investors.
The Leicester-based company has tripled its revenue since the first lockdown a year ago and begun to expand its customer base into the US and Middle East. The funding will allow it to further enhance its platform, create seven new jobs and scale the business in the run-up to a Series A fundraising in the year ahead.
StaffCircle’s platform helps companies to engage more effectively with employees in different locations, improve performance and reduce the time spent on administration. Founded in 2017 by serial entrepreneur Mark Seemann, it currently employs 20 staff.
The latest investment round is the second by Blackfinch, which made an initial £670,000 investment in May last year, and the third by MEIF, which has invested £750,000 to date.
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.