Invenias takes total funding to $5.5m following latest MMC Ventures investment
Recruitment software company to use follow-on round to “continue fast growth pattern”
Invenias, a company which provides software solutions to the recruitment sector, has secured additional follow-on funding of $2m in a round led by investment firm MMC Ventures.
The investment comes just months after its second MMC-backed funding round and takes its total funding raised to date to $5.5m.
Established in 2005, Reading-based Invenias specialised in software which is designed to help executive search firms, specialist recruitment, and enterprise recruitment organisations increase productivity and “deliver better assignments” and has a client portfolio which spans 30 countries including the US, Australia and Malaysia.
Having already signed 200 new clients this year, the software business plans to use this additional funding to capitalise on futher opportunities for international growth.
Invenias CEO and co-founder, David Grundy, commented: “It’s been a significant year for the team at Invenias – from growing the business to more than 600 customers and thousands of users, announcing a strategic global partnership with the Association of Executive Search Consultants (AESC), and further extending the product. This latest funding from MMC Ventures will allow us to continue this momentum and accelerate our international plans in 2015.”
Invenias chairman Mark Farmer expanded on its “international plans”:
“It will help us address the strong demand for Invenias in the US market, starting with the opening of a new office in San Francisco in early 2015, and allows us to grow our product and engineering ability to further support the innovation planned in our product road map.”