StaffCircle Raises £3M in Funding

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<p><strong>About Mercia Asset Management PLC</strong></p>
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<p>Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of balance sheet, venture, private equity and debt capital: the Group's 'Complete Connected Capital'. The Group initially nurtures businesses via its third-party funds under management, then over time Mercia can provide further funding to the most promising companies, by deploying direct investment follow-on capital from its own balance sheet.</p>
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StaffCircle, a Leicester, UK-based HR software platform that helps manage remote workers, raised further £3m in funding.

Backers included Blackfinch Ventures and the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund.

The round, which brings the total funding raised by the company to date to £5m, will allow it to enhance its platform, expand its global reach and expand its team by creating 10 new jobs.

Led by Mark Seemann, Founder and CEO, StaffCircle provides an HR software platform that allows firms to manage the performance of employees in different locations. In the previous financial year to the end of March, the company has almost tripled its annual revenue bringing it to over £800,000, and is on course to break through the £1m mark in the coming months.

StaffCircle now offers its services to 125 organizations from different industries including the Food Standards Agency, financial services firm finnCap, housing associations and NHS bodies, with international clients in the US and Canada.

FinSMEs

09/06/2022