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Invenias scores $2 mln

Invenias, a UK-based provider of software solutions for the executive search and recruitment industry, has secured $2 million in funding. MMC Ventures led the round.

PRESS RELEASE

9 December 2014, London
Invenias, the leading provider of software solutions to the executive search and specialist recruitment sector, has completed an additional funding round led by award-winning fund managers MMC Ventures, raising an additional $2.0 million – taking the total external funding raised to $4.0 million.

Throughout 2014 the business has continued to grow rapidly, releasing new products and gaining customers from more established vendors. This additional funding will enable Invenias to continue this fast growth pattern and accelerate its international expansion.

Invenias has won in excess of 200 new customers across the world in 2014, driving its incredible international growth – including Davis Search, Atlanta; Healy Hunt, London; Kerridge and Partners, Auckland; GT Search, Sydney; Park Square International, Boston; RP International, London; Sports Recruitment International, London; Talenses, São Paulo; Tesla Motors, Palo Alto; The Mulsanne Partnership, London; and The Up Group, London.
Chairman Mark Farmer commented, “We are very excited about the opportunity for Invenias; this funding round provides further endorsement of our expansion 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.”

Jon Coker, Investment Partner at MMC Ventures, said, “We have been impressed with what the Invenias team have achieved since our initial investment – and see a huge opportunity for the business as the scope and scale of the addressable market for their technology continues to expand.”

David Grundy, CEO and co-founder of Invenias, said, “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.”

About Invenias
Invenias® is a privately owned software company that enables executive search firms, specialist recruitment companies and enterprise recruitment organizations to effectively deliver better assignments, build stronger relationships with clients and candidates and transform the productivity of their operations with easy to use cloud-based desktop and mobile applications.

Incorporated in 2005, Invenias serves thousands of users in over thirty countries across the globe. Invenias is headquartered in Reading, United Kingdom, with additional offices in the US, Australia and Malaysia.

For more details on Invenias, please visit www.invenias.com.

About MMC Ventures

Founded in 2000, MMC Ventures is an active investor and award-winning venture fund manager, focused on technology-enabled sectors where the UK is a world leader -particularly financial and business services, business software, digital media and e-commerce. With over £125 million under management, and investing £15 million+ annually, MMC was ranked as one of most active early stage UK investors for 2012, 2013 and first half 2014.
MMC’s existing portfolio includes AlexandAlexa, Boticca, iJento, Interactive Investor, Love Home Swap, Masabi, NewVoiceMedia, Reevoo, Safeguard, Small World, Somo, TotalMobile, and Tyres on the Drive.
www.mmcventures.com