Rise To closes £744,000 Seedrs round to support London businesses
Recruitment platform founded by serial entrepreneur Duncan Cheatle matches 16-24 year-old job hunters with entrepreneurial firms in the capital
Rise To, a London-based platform that matches young people to entrepreneurial businesses, has raised £743,625 crowdfunding round via equity-based crowdfunding platform Seedrs.
More than 304 investors took part in the round which exceeded its £400,005 target by 186% for a total of 17.72% equity.
Notable investors included ex-Strada and Pizza Express chairman Luke Johnson, high-profile angel investor Dale Murray MBE, Dreams founder Mike Clare, and Oasis and Warehouse founder Michael Bennett.
Launched by Dan Bowyer and Duncan Cheatle; the serial entrepreneur behind influential member’s club Prelude Group and The Supper Club, Rise To allows companies to create a LinkedIn-style profile and be automatically matched to pre-vetted 16-24 year job hunters using an algorithm and information on their CV’s.
The site is free for ‘talent’, with businesses paying an ‘all you can eat’ subscription fee from £50 to £250 depending on their size.
The funding will be used to develop the platform and algorithm, invest in sales, marketing and advertising and for back office improvements.
Cheatle commented: “We initially seed funded the businesses with the help of our existing network of entrepreneurs, and a crowdfunding round was a natural next step in helping our small business grow, so we’re thrilled to have seen so much positive interest in the Rise To platform.”
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Read Cheatle’s business growth story here.