Broadstone secures further £1.5m funding

Technology start-up Broadstone has announced that it has extended its funding by a further £1.5 million in order to service major contract wins in recent months, scale operations, and to accelerate the development of its product roadmap and staffing marketplace.

This takes the total raised by Broadstone to £2.5 million to date. 

The latest investment was made by existing investors Maven Capital on behalf of NPIF – Maven Equity Finance, part of the Northern Powerhouse Investment Fund, along with a number of angel investors – most notably Peter Searle, the former UK CEO of temporary staffing agency Adecco.

In just under two years since launch, Broadstone’s platform has gained 30k+ users in the UK looking for shift-based work in regulated sectors. 

The Manchester-based company’s ‘Labour-as-a-Service’ platform, draws on data, automation and gamification to connect large corporate organisatons, to those individuals looking for temporary work.

The platform currently focuses on regulated industries and allows organisations to access a pool of qualified and compliance tested talent – saving companies the time, money and effort of engaging traditional temporary staffing agencies. 

Co-founder & CEO Tom Pickersgill said: “Labour-as-a-Service is growing fast in recognition as a term, and as the market leader in regulated industries we are well-placed to strengthen our position. We’ve recently seen Uber moving into this market with Uber Works, demonstrating the model’s strategic importance. In fact, The Economist predicts that by 2029 all workers will be listed on at least one labour platform – this presenting Broadstone with a huge market opportunity.

“The investment has come at a crucial time in our evolution as it will allow us to accelerate the creation of a new product roadmap and roll out a number of new capabilities for our expanding customer base of global players. Longer-term we have ambitious plans to establish our model in key markets – the US being one we want to move into by 2021.”

Former UK CEO of temporary staffing agency Adecco and Broadstone investor, Peter Searle added: “The additional funding that Broadstone has secured will support it in building on a proven tech-driven model, and innovate the temporary staffing market further to support different sectors including cleaning, catering and warehouse operatives.

“It’s very exciting to see how quickly the company is growing, and the size of clients its attracting at this relatively early stage.”