Bright Network, a London, UK-based media technology platform which enables blue-chip employers to reach, identify and recruit high-quality graduates and young professionals, raised £2.5m in funding.
The round was led by Maven Capital Partners (£2.15m came from Maven VCTs) with participation from existing and new angel shareholders (£0.4m).
The company intends to use the funds to invest in sales and marketing for its existing enterprise platform and also launch a new SaaS service for the fragmented SME market.
Led by James Uffindell, CEO, Bright Network provides a platform that uses advanced data analytics and technology to pre-screen candidates and ensure that its membership contains only the top 20% of graduate talent. Students joining the network benefit from a range of practical advice, industry insights and the chance to connect with leading employers, delivered online or in person at exclusive events. The platform will also soon deliver an online Academy which will offer free courses to up-skill students to prepare them for the world of work. Contact is maintained with individuals once they have started employment and as they progress their careers, extending the market opportunity of the platform into the wider young professional recruitment market which is estimated to be worth £1 billion per annum.
To date, the business has made over 10,000 successful hires and year on year has increased applications to its clients by 105%.
Its client base includes over 250 employers, such as global blue-chip organisations such as Bloomberg, Deloitte, Goldman Sachs, Morgan Stanley, PwC, P&G SkyScanner and Vodafone.