Invenias, a provider of cloud software for the executive search and recruitment sector, has closed a $1.5 million Series A round from new investor MMC Ventures, along with a number of private investors, including Mark Farmer, founder of Eden Ventures. The expansion round brings Invenias’ total funding to around $2.25 million, factoring in the circa $750,000 prior investments put in by the founders.
The U.K.-headquartered company, which also has offices in the U.S. and Malaysia, has built up customers in more than 30 countries since being incorporated in 2005. Its cloud-based software platform integrates with Microsoft Outlook so users can manage and view candidate data — such as CVs — within the email program, rather than having to utilise separate software. The Outlook app also includes social integrations to allow a candidate’s LinkedIn, Facebook and Twitter accounts to be easily viewed. Last month it also released native apps for iPhone and iPad.
Invenias said the new funding will be used to accelerate its “product development and customer acquisition objectives”, noting that it has appointed additional heads across marketing, sales and development in the past three months — as it prepares to make more noise. Specifically, it said it’s planning to push international expansion in the U.S. and Asia.
Commenting on the funding in a statement, Jon Coker, Investment Partner at MMC Ventures, said: "The executive search and recruitment market is growing and innovating fast. MMC specialises in backing UK businesses that have the potential to succeed on a global scale and Invenias has already shown this to be true."
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