An employee performance management and culture platform which helps companies to manage remote workers has raised a further £1.3m to fund its rapid expansion.
StaffCircle has secured funding from its existing investors Blackfinch Investments (£1 million) and the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund, as well as private investors.
The latest investment round is the second by Blackfinch, which made an initial £670,000 investment in May last year. Also, it is the third by MEIF, which invested £750,000 to date.
The Leicester-based tech startup has tripled its revenue since the first lockdown a year ago and begun to expand its customer base into the US and the 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 create better employee experiences by engaging more effectively with employees in different locations, improving performance and reducing the time spent on administration. Founded in 2017 by serial entrepreneur Mark Seemann, it currently employs 20 staff. The latest funding round is the fourth to date and brings the total it has raised so far to £3m.
In a world of remote working, managing employee performance has never been more challenging. StaffCircle introduces new levels of structure and visibility, connecting employees, aligning with culture and helping teams to meet targets. The latest funding round demonstrates the confidence our investors place in us and will enable us to roll out the platform to many more companies.Mark Seemann – StaffCircle, CEO
StaffCircle has created an impressive offering in a growing market, through efficient product development and a solid sales strategy. The decision to invest further funds was an easy one to make, not least because the company exceeded their revenue projections last year. The experienced team are highly driven and we look forward to helping them on their journey towards success.Richard Cook – CEO and Founder. Blackfinch
StaffCircle created a platform for remote working before it became the norm. Not surprisingly, demand has soared during the pandemic. With working from home now an established practise, this new funding will help Mark and his team to take advantage of the growth opportunities and take the business to the next level.David Baker – Investment Manager, Mercia Asset Management
With capabilities in Microsoft 365 and Teams, StaffCircle uniquely combines performance management and employee engagement into one cloud platform that measurably improves workplace culture, automates processes to deliver greater operational efficiency, especially with remote or distributed employees.
Our platform is designed to deliver a holistic approach to managing the end to end employee experience in one consolidated platform which gives 360 insight into performance, engagement and sentiment across distributed, dispersed or multi-national workforces.
These data-driven insights provide the basis for informed decision making and a more strategic HR function.
Our unique approach is helping customers across the UK, USA and Middle East to achieve high performing cultures with more engaged employees and strengthens their ability to attract and retain talent. “
For more information please visit: www.staffcircle.com