Invenias, a U.K.-headquarted company that sells cloud software for the executive search and recruitment sector and has an interface that works within Microsoft Outlook, has topped up its funding with a $2 million expansion round from a prior investor.
Last July Invenias closed a $1.5 million Series A round, from then-new investor MMC Ventures, plus a number of private investors, including Mark Farmer, founder of Eden Ventures.
MMC Ventures has now reinvested in the company, leading the new $2 million round. The VC firm also led the last round in Invenias.
Farmer, who previously founded Cramer Systems, selling that business to Amdocs in 2006 for $425m, has also joined the company as Chairman.
Invenias’ cloud-based software platform integrates with Microsoft Outlook so users can manage and view candidate data within the email program, rather than having to utilise separate software. Candidates’ LinkedIn, Facebook and Twitter accounts are also pulled into the Outlook app for easier viewing.
Invenias said today it plans to use the new financing to continue growing the business and for further international expansion.
It told TechCrunch it now has just under 500 customers, serving “thousands” of users across more than 30 countries. The company currently employs 80 of its own staff, across Europe, the Middle East and Asia.
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Commenting on the new tranche of funding in a statement, Jon Coker, Investment Partner at MMC Ventures, said: “Since initially investing in Invenias in July 2013, we have seen impressive growth and development from the team and we are delighted to be providing follow-on funding. Working with Invenias over the last year has strengthened our view that there is a big opportunity in this sector and we are pleased to further support the company.”
