Invenias secures $2.8m in new equity and debt financing to fund international expansion.
The funding package comprises equity from MMC Ventures and debt from Clydesdale & Yorkshire Bank.
Invenias provides a cloud-based software platform designed for executive search and strategic recruitment firms.
Invenias has raised $2.8m in a funding package combining $1.1m in new equity from existing backer MMC Ventures and $1.7m in debt from Clydesdale & Yorkshire Bank. Founded in 2005, the company supplies cloud-based platforms for executive search firms and has built a portfolio of 750 clients worldwide.
The capital will be directed towards international expansion, particularly in North America, alongside ongoing research and development and infrastructure investment. The business has experienced rapid year-on-year growth and maintains operations across Europe, Asia, the US and the UK.
Existing investor MMC Ventures participated alongside Clydesdale & Yorkshire Bank's Growth Finance team, which facilitated the transaction. The financing follows strong demand for the company software among recruitment firms in North America and other international markets.
From the founder
"One of the key reasons our customers opt to deploy the Invenias platform is because of our strategy of continuous innovation. We have seen tremendous demand for our software in the North American market in the last 12 months, with prestigious firms such as ON Partners in Boston, The Toft Group in San Diego and Conroy Ross Partners across Canada, all choosing to run their business on Invenias. This funding package will enable us to meet our growth ambitions as it will empower us to invest in our platform, our infrastructure and scale with our customers."
David Grundy
CEO at Invenias
Investor perspective
"Invenias has enjoyed sustained growth year-on-year that a lot of companies can only dream of. Its strength and track record in the European, Asia Pacific and US markets and investment in its platform has put it in a strong position to further expand its operations. We’re delighted to support them."
Andrew Stirrat
Clydesdale & Yorkshire Bank
Use of funds
- 01Expand into international markets
- 02Fund research and development
- 03Build out infrastructure
