Executive search software platform secures $1.5m funding
CloudOrigin is proud to have once again assisted MMC Ventures with IT and Operational Due Diligence in support of their investment in hyper growth cloud based executive search software provider Invenias.
“UK firms remain at the forefront of software innovation on a global stage and we are delighted to have been part of the accelerating growth of pioneers such as Invenias and KnowledgeMill in the MMC portfolio” commented Richard Hall, Chief Executive of CloudOrigin.
For the press release see below or click here for full details (MMC Ventures link).
Invenias ready to accelerate international expansion
22 July 2013. Invenias, the software platform that executive search and recruitment organizations use to underpin their core business activities, today announced that it has secured circa $1.5 million in expansion funding from MMC Ventures and a number of private investors, including Mark Farmer, founder of Eden Ventures.
The Invenias cloud-based software platform enables executive search organizations to fulfill search assignments more effectively, build stronger relationships with their clients and candidates, and transform the productivity of their operations. The ‘Outlook Easy’ Invenias App has revolutionized the experience and expectations of users while the Invenias private cloud removes IT complexity and cost. Invenias has customers in over thirty countries, including leading boutique and mid-sized executive search and executive recruitment firms, along with a number of in-house executive talent teams within prestigious enterprise organizations.
The investment will accelerate the Company’s product development and customer acquisition objectives. In the past three months the company has appointed additional heads across marketing, sales and development. In addition, the Company recently announced the availability of Invenias for iPhone and iPad.
Jon Coker, Investment Partner at MMC Ventures, said, “We are delighted to begin our investment partnership with Invenias. The executive search and recruitment market is growing and innovating fast. MMC specialises in backing UK businesses that have the potential to succeed on a global scale and Invenias has already shown this to be true.”
David Grundy, Chairman, CEO and co-founder of Invenias, said, “We are delighted we have obtained investment from MMC Ventures and Mark Farmer, who’s investment pedigree provides the Company with not only capital, but also enormous experience and expertise, and represents a huge vote of confidence in the future of Invenias.”
Invenias® is a privately owned software company that enables executive search firms, specialist recruitment companies and enterprise recruitment organizations to effectively deliver better assignments, build stronger relationships with clients and candidates and transform the productivity of their operations with easy to use cloud-based desktop and mobile applications. Incorporated in 2005, Invenias serves thousands of users in over thirty countries across the globe. Invenias is headquartered in Reading, United Kingdom, with additional offices in the US and Malaysia. For more information, please visit www.invenias.com.
About MMC Ventures
Founded in 2000, MMC Ventures is an active investor and award-winning venture fund manager, focused on technology-enabled sectors where the UK is a world leader -particularly financial and business services, business software, digital media and e-commerce. With circa £100 million under management, MMC invests £10-15 million per annum in a combination of new investments and add-on capital for existing portfolio companies. MMC specialises in fast-growth early-stage businesses, partnering with entrepreneurs and impressive management teams to achieve substantial scale and profitability.
MMC’s existing portfolio includes AlexandAlexa, Base79, Interactive Investor, Knowledge Mill, LoveHomeSwap, Reevoo, The Practice, NewVoiceMedia, Tyres on the Drive, Masabi, Consilium, Safeguard, Creativity, iJento, Neoss, Breathing Buildings, Small World and Somo.