MMC injects $2m into Invenias

MMC has now invested $4m in the company across three funding rounds.

The fresh capital will facilitate the company's international expansion, including the establishment of a San Francisco office in 2015. It will also grow its product offering.

Previous funding
MMC first invested in Invenias in July 2013, participating in a $1.5m round intended for product development and marketing. Eden Ventures founder Mark Farmer also committed capital.

In March this year, MMC committed to a follow-on round totalling $500,000. Farmer invested again and became chairman of the company.

Company
Founded in 2005, Invenias provides cloud-based search software operating inside Microsoft Outlook that allows recruitment firms to track assignments and maintain relationships with clients and candidates.

The business has 600 customers in 30 countries and claims to have won 200 new customers in 2014. These include Boston-based Park Square International and Sports Recruitments International, based in London.

As well as its Reading headquarters, Invenias has additional offices in the US, Australia and Malaysia.

People
David Grundy is CEO and co-founder of Invenias. Jon Coker is investment partner at MMC.

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