Published: Oct 06, 2017
Focus:
NPIF Maven Equity Finance
Maven is pleased to announce an investment of £200,000 in Manchester-based Broadstone Engage, an online recruitment platform designed for the private security industry, on behalf of the Northern Powerhouse Investment Fund (NPIF).
The investment will enable Broadstone to fund five new software development positions which will strengthen the current platform and enable the firm to integrate the mobile app expand its premises and strengthen the marketing function.
Broadstone operates in the highly fragmented private security recruitment market which is ripe for disruption. While online platforms serving other sectors of the security marketplace exist, Broadstone is the first to offer an online platform and integrated mobile app, known as Engage, to the private security segment.
Engage seamlessly matches security companies with jobseekers who are able to create a personal profile on the platform and receive an email notification each time a suitable role becomes available. Companies looking for security personnel, in addition to posting roles via the platform, are able to easily vet applicants, check their SIA licences and confirm timesheets, and are able to promote the jobs which offer flexible working and better pay rates, making the recruitment process more easy and efficient.
Founder Tom Pickersgill is currently focused on growing the product teams and in the medium term plans to bring five full-time jobs to help achieve Broadstone’s goals.
Tom Pickersgill, founder and CEO at Broadstone said: “Accessing investment can be a complex process, but Maven was extremely supportive throughout. The investment community is extremely excited about marketplace models and Maven recognised our unique offering and approach to the private security industry and shares our vision for introducing change and innovation to this very bespoke market. Our excellent business partnerships, expertise and understanding of the market and ability to access key industry influencers also made our proposition an extremely compelling one.”
James Darlington, Investment Manager at Maven, said: “We are delighted to support Broadstone as it seeks to expand its presence in the market. Broadstone’s unique offering to the private security market is something that genuinely excites us and we are optimistic about its uptake by both companies and users alike. We are also extremely pleased to be backing this management team which is more than capable of capitalising on the opportunity and driving the business forward.”
Grant Peggie, Director at British Business Bank, said: “This investment once again demonstrates that Maven Capital Partners and our other NPIF Fund Managers are actively finding and completing deals with growing businesses across the Northern Powerhouse area.
We look forward to seeing many other opportunities that the Northern Powerhouse Investment Fund can bring for other small and medium sized businesses in Greater Manchester and the wider Northern Powerhouse region.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
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