Midven backs HR software firm with £250,000 investmentLast updated on: May 7, 2019, Author: Editorial Team
A Birmingham-based software firm which specialises in HR products has secured £250,000 of new investment.
Natural HR will use the capital to create ten jobs at its base in Newhall Street over the next three years as well as develop product lines.
The firm started life in 2010 from a growing need for online employee management systems and its product was originally designed to help employees who work remotely to manage and submit their time sheets but has since evolved into a full-service system with customers in 89 countries.
This latest cash injection from Birmingham-based venture capital firm Midven, using equity finance from the Midlands Engine Investment Fund, follows an investment by private investors and £235,000 in 2015 from Midven’s Early Advantage Fund.
Sarah Dowzell, co-founder and chief operating officer at Natural HR, said: “We’re thrilled to be receiving this investment from Midven. Natural HR has an exciting future and this funding will allow us to not only extend our team but advance and develop our products and services for existing and new clients.”
Giovanni Finocchio, investment director at Midven, added: “We have seen Natural HR grow since our initial investment in 2015, having continued to develop market-leading HR solutions. I’m delighted we have invested further in what is an exciting and resourceful company with a huge amount of potential.”