MMC in $1.5m round for Invenias

The funding round also saw a number of private investors back the company, including Eden Ventures founder Mark Farmer. MMC currently has no plans to inject further capital into Invenias, but may support the company with additional investments as the business grows.

The fresh funding will be used to further develop the company's products, as well as expand on its marketing techniques to attract new customers. Invenias has recently hired new heads for its marketing, sales and development teams.

MMC was attracted to the company because of its target market, which MMC believes is a large market that is currently poorly served. According to MMC partner Jon Coker, Invenias's target market is currently populated by small providers selling ageing technology.

Company
Founded in 2005, Invenias is headquartered in Reading with additional offices in Malaysia and the US. The company provides cloud-based search software that operates inside Microsoft Outlook and allows recruitment firms to track assignments and maintain relationships with clients and candidates.

People
David Grundy is the CEO and chairman of Invenias. MMC investment partner Jon Coker has joined Invenias's board of directors.

Advisers
Equity – Taylor Wessing (Legal).
Company – Osborne Clarke (Legal).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• MMC Ventures