Oak Engage secures £2.6m Series A follow on investment led by Maven Capital Partners
Maven Capital Partners led the Series A follow on round with participation from regional funds and private investors to scale operations and expand the team.
Oak Engage develops a cloud-based internal communication and employee engagement platform for enterprises. The scalable software integrates with various office applications to connect workforces and improve productivity.
Maven Capital Partners has led a £2.6m Series A follow on investment round into Oak Engage. The transaction brings Maven's total investment in the company to £6m. Funding was provided through Maven's Investor Partners network alongside contributions from the North East Development Capital Fund, the North East Innovation Fund and private investors.
The fresh capital will be used to support recent customer acquisitions and fund the creation of 26 new jobs across sales and marketing divisions. Oak Engage has experienced steady growth despite the pandemic, servicing major international brands.
Investor perspective
"Oak is a proven, fast growing technology business led by strong, experienced management team. The platform is globally scalable and as employee engagement is becoming increasingly recognised as pivotal in the overall success of a business, Oak continues to secure a number of impressive customer contacts. We look forward to working with Will and the team as the company scales further and continues to expand."
Michael Vassallo
Investment Director, Maven Capital Partners
Use of funds
- 01Grow the team
- 02Invest in sales and marketing
Investors
Michael Vassallo
Maven Capital Partners
Maven Investor Partners
North East Development Capital Fund
North East Innovation Fund
Categories
About the company
Oak Engage
Cloud-based employee engagement and internal communication platform for enterprises.