MMC leads follow-on round for Invenias

Eden Ventures founder Mark Farmer, already a private investor in the company, has committed further capital to Invenias and has taken up the position of chairman.

MMC led a $1.5m funding round in Invenias in July last year alongside several private backers, including Farmer. A further $500,000 has now been supplied to bring the total for the round up to $2m.

According to MMC, Invenias has experienced a rapid growth rate since the firm's first investment eight months ago.

Like July's investment, the fresh capital will be used to further develop the company's products as well as allow the company to pursue further international expansion.

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.

Since MMC's initial investment, Invenias has won several new clients including London-based international recruitment firm RP International. Other clients include Nastrac Group, Wilton & Bain, Kleboe and ConnectedGroup.

People
David Grundy is the CEO and co-founder of Invenias. MMC partner Jon Coker sits on the company's board of directors.

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