Invenias secures $2.8m to crack North America

Reading-based recruitment software company has 750 customers with offices across the UK, US, Europe and Asia

Invenias, a company which provides software solutions to the recruitment sector, has secured $2.8m in funding from existing investor MMC Ventures, with additional funding from Clydesdale & Yorkshire Banks.

Founded in 2005, Reading-based Invenias has built a cloud-based platform for executive search and claims to be the fastest growing company in the sector.

Said to have achieved year-on-year growth for the past five years, the business now has 750 customers in its portfolio with offices across the UK, US, Europe and Asia.

Following the successful funding round, Invenias is seeking to continue its international growth plans as it looks to grow in North America, expand into new markets, and invest more in R&D.

David Grundy, CEO of Invenias, said:

“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.”

Jon Coker, managing partner at MMC Ventures, added:

“We continue to be impressed with what the Invenias team have achieved since our initial investment and see a huge opportunity for the business as they accelerate expansion in the North American market.”

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