The current remote working trend has left several of us working from homes and communicating with teams via video calls and emails. This culture poses several challenges and this is where Milton Keynes-based WorkBuzz, an HR platform, sees an opportunity for growth. WorkBuzz also bagged £780K funding to grow its team and add new features in a recent move.
Eyes to grow the team
The funding came from Mercia and Foresight, both investing through equity finance from the Midlands Engine Investment Fund (MEIF) alongside private investors. Currently, WorkBuzz has a team of 16 and plans to increase its size by creating 15 new jobs this year. Also, it intends to achieve 100% growth in each of the following two years.
Further, the UK-based HR tech also intends to use the investment to add new features to its platform and establish a network of overseas partners to increase its international reach.
Ken Cooper, Managing Director at the British Business Bank, said: “Finance from the MEIF can help businesses to unlock growth and explore new opportunities. It’s great to see the Fund having this impact, enabling WorkBuzz to continue its rapid expansion, while creating new jobs in the region. We would encourage other Midlands’ businesses to consider MEIF funding for growth.”
Hilary Chipping, Chief Executive of SEMLEP, commented: “Taking care of employee wellbeing and retaining talent are key aspects of running a successful business, especially as we all adapt to the new way of working. This MEIF investment will enable WorkBuzz to further bring teams together in an easy, flexible way while unlocking job opportunities in Milton Keynes.”
Appoints new Chair
Furthermore, as part of the investment, Jeremy Tipper, a serial entrepreneur with experience in HR tech companies, has joined WorkBuzz as its new Chair.
Stephen Windsor of Mercia added: “WorkBuzz has been on exciting growth journey to date and has ambitious plans for the future. This investment will help support Steven and the team as they continue to scale the business. As part of the deal, we were also able to introduce a new Chair from the Mercia network who brings valuable experience to help them along the way.”
Improves lives of employees
WorkBuzz was launched by Steven Frost in 2018 is an employee engagement consultancy. It helps organisations to engage employees, whether they working from home or in the office or factory, and provides them real-time feedback to help in making business decisions. Currently, the HR platform has clients including Shell, Premier Foods, and HS2.
Steven Frost, CEO of WorkBuzz, said: “WorkBuzz helps companies to navigate these challenges and build great cultures. Our vision is to improve the working lives of 1 million people, and this investment round will help us to make it happen sooner.”