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Newcastle-based employee voice platform HiveHR secures £500K funding

HiveHR

It is definite that employees are the assets of the company, whereas one-to-one communication is required to function better. The companies nowadays want to develop employee friendly cultures where easy communication can take place. Newcastle-based innovative employee listening tool, HiveHR has now raised £500k to accelerate their growth roadmap.

The round was led by the North East Development Capital Fund (NEDCF) managed by Maven Capital Partners, which invested £250,000.

A further £250k has been invested by the Future Fund, a government-backed scheme supported by the British Business Bank.

B2B SaaS-based employee listening tool

When remote working is the new normal, companies always want to stay connected with their employees and bring harmony. The subtle way to stay connected is through better communication. HiveHR’s unique tool helps companies to stay connected with the employee amidst a remote working paradigm.

The funding, which follows six months of growth for the company, will be used to drive the company’s renewed focus on outbound sales, which it says will support its expanding digital presence.

Impressive client base

HiveHR is an employee voice platform, which is currently used by brands such as River Island, Hermes and Travelodge.

Its B2B SaaS proposition plays in the work tech space and provides companies with a modern and more actionable approach to employee voice. HiveHR has a strong management team led by CEO, John Ryder, who has over 15 years of experience in digital marketing and the technology sector. John was previously Head of Innovation at leading North East eCommerce firm Visualsoft.

David Nixon, Investment Manager at Maven, said: “Despite an incredibly challenging year, the Hive platform continues to provide a key service to more and more organisations as they evolve their remote working operation. Today’s transaction is a further testament to all that Hive has achieved since we originally invested in 2019 and our belief in the future growth of the company. John and his team have created a strong business and we look forward to working with them as they accelerate their development plans.” 

John Ryder, Founder and CEO of Hive HR, said: “The pandemic has placed the spotlight on some very distinctive issues that elevate the case for Employee Voice further—such as remote and flexible working, wellbeing, inclusion, and culture. So, it’s great that we now have even more resources to continue to grow the business.”

The global SaaS and HR Tech market is expanding rapidly with annual double-digit growth. The organisations demand more cost-effective and flexible cloud-based solutions. Over 28% of global HR enterprise applications are now being delivered on a SaaS platform and are forecasted to increase significantly to 86% by 2022.