A software firm that specialises in helping employees stay in touch has won investment to help it grow further.
StaffCircle, founded by Leicester tech entrepreneur Mark Seemann, will use the £775,000 to build its sales and marketing team and expand its client base.
It secured the money in a funding round led by Blackfinch Investments and which included the MEIF Proof of Concept & Early Stage Fund. That fund is managed by Mercia and is part of the Midlands Engine Investment Fund.
StaffCircle is an HR platform designed to help SMEs improve internal communications and engage with and manage employees in different locations.
Mr Seemann founded StaffCircle in 2017 after building and selling three previous software businesses.
The company employs 10 people and now plans to take on another five.
The latest funding follows a £250,000 investment from the Midlands Engine Investment Fund in 2019.
Mr Seemann said: “This platform is about interacting with staff and empowering them but perhaps more importantly, at a time like this, it’s also about maintaining communication when businesses are not able to do so face to face.”
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Dr Reuben Wilcock, ventures director at Blackfinch, added: “StaffCircle clearly has tremendous potential. We’re delighted to be backing it at such an early stage.”
David Baker, investment associate with Mercia, said: “Mark is an experienced entrepreneur who has developed a great product and built a loyal customer following in a relatively short period of time. This latest funding round will give the company the resources it needs to sign up new potential customers and increase its revenue stream.”
Grant Peggie, director at the British Business Bank, said: “A key aim of the Midlands Engine Investment Fund is to ensure that Midlands businesses have access to the increased levels of finance they need to grow. This latest investment will enable StaffCircle to increase its business development and create a range of new employment opportunities.”
Kevin Harris, chair of the Leicester and Leicestershire Enterprise Partnership said: “I’m delighted that StaffCircle has secured this additional funding from the Midlands Engine Investment Fund, to help the business realise its growth plans over the coming years.
"Leicestershire is a hub for innovative businesses, and StaffCircle is leading the way when it comes to securing the investment it needs to innovate by developing new software products and creating new jobs.”
Mike Jackson of Browne Jacobson in Birmingham provided legal advice to Mercia, while Peter Mayhew of Shakespeare Martineau advised Blackfinch.