WorkBuzz raises £1.5m to go global
A Milton Keynes-based HR software startup has raised £1.5 million in investment to help it expand internationally.
Workbuzz is an employee engagement platform designed to help organisations gather real-time feedback from their people. It already boasts high-profile clients including Shell Energy, Premier Foods, HS2 and Hovis.
The latest funding, secured from existing backers Mercia and Foresight, will enable the company to expand its sales and marketing team and ‘internationalise’ the platform by adding new features and languages in preparation for further expansion, having already attracted a range of new clients in Australia.
Steven Frost, CEO of WorkBuzz, said: “Here at WorkBuzz, we are on a mission to help organisations create cultures where every voice matters and every person can be their best.
“With generational talent shortages, fundamental shifts in how millions of people work and changing employee expectations, we’re excited to use the funding to amplify the difference we can make, faster.“
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Steven launched WorkBuzz in 2018, having previously run an employee engagement agency. It first received funding from Mercia and Foresight in March 2021 via the Midlands Engine Investment Fund.
It has since doubled in size, employing 35 staff with plans to create an additional 15 jobs by the end of the year. Revenue has also more than doubled to £2m, while annual recurring revenue is continuing to grow by around 8% a month.
Stephen Windsor of Mercia said: “Organisations today not only face the challenge of managing remote workers, but also finding and retaining staff in a very tight labour market.
“WorkBuzz helps them to meet the challenge. With uptake of the platform growing rapidly in the UK, the latest funding round will help the company prepare to launch it on the global stage.”
Back in February, we recognised WorkBuzz as 'one to watch'.
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