Maven Capital Partners has led a £1.2m investment into Hire HR, a cloud-based employee engagement platform.
The Newcastle-based company will use the cash to make new hires in sales and marketing and roll out new product development.
The Hive client list includes Hermes, Shop Direct, Travelodge and the NHS. It supports human resources departments with staff surveys and analyses feedback in real-time.
Maven provided £350k through its management of the North East Development Capital Fund, supported by the European Regional Development Fund, with £250k provided by Maven VCTs. The remaining cash came from private investors, management and via the Growth Capital Ventures co-investment platform.
“The workplace is constantly evolving, and organisations must remain dynamic to ensure more than ever that they are keeping their employees happy, motivated and engaged,” said Alex Marsh, Investment Manager at Maven.
“The Hive platform helps remove the additional burden this is creating for HR and leadership teams and is helping them respond better and more quickly to employee feedback to deliver initiatives and services to help retain and motivate staff in what is an increasingly competitive environment. John has built an impressive senior management team around him and we are delighted to support the business as it enters an exciting new phase of growth.”
John Ryder, the Managing Director of Hive spent 15 years in digital marketing and technology and was previously Head of Innovation at Visualsoft:
“Hive has grown quickly in the last three years with very little capital. The whole team are now excited about what we will achieve with the additional backing from investors and are really pleased to welcome Maven as part of this round,” he said.
