Huler Gains Additional £1.5 Million Investment from MEIF and Mercia Ventures
Huler, a worktech company, has secured an additional £1.5 million Seed Follow On investment from the MEIF Proof of Concept & Early Stage Fund, managed by Mercia Ventures. This investment, part of the Midlands Engine Investment Fund, will support the development of HulerHub, its leading employee experience platform (EXP). HulerHub, a SaaS platform, simplifies employee communications and provides insights for HR teams. It aggregates various software and apps into a single digital window, enhancing employee engagement. Huler, co-founded by HR expert Nicky Hoyland and entrepreneur Gareth Mobley, has witnessed rapid adoption of its platform by notable clients like Travelodge and Centrica. With this funding, Huler aims to expand its team, increase revenues, and continue its significant growth in the HR tech sector.
In a significant move for the worktech sector, Huler has announced securing an additional £1.5 million in a Seed Follow On investment round. This funding, managed by Mercia Ventures, comes from the MEIF Proof of Concept & Early Stage Fund, marking a pivotal step in Huler’s journey to revolutionize employee experience.
The Stoke-based company’s flagship offering, HulerHub, is a SaaS platform designed to streamline employee communication for HR teams. It serves as a comprehensive digital window, integrating various software programs, applications, and content essential for employees. This innovative approach not only simplifies access to information but also provides critical insights to HR teams, aiding in better engagement and team management.
Since its launch in early 2022, HulerHub has rapidly gained traction among high-profile clients such as Travelodge, Centrica, EE, and US-based Dairy Queen, demonstrating the platform’s effectiveness and adaptability in the dynamic worktech landscape. Huler anticipates a 160% increase in its annual recurring revenue in the current financial year, underscoring the platform’s success and market demand.
Huler was co-founded by HR and worktech specialist Nicky Hoyland, in collaboration with Stoke entrepreneur Gareth Mobley, former CEO of DW3 Products Group. This latest investment round, following a previous one from Mercia and MEIF in December 2022, brings Huler’s total funding to £3.5 million.
In line with this investment, Huler has welcomed David Kelly as the new Chief Revenue Officer. Kelly, with over two decades of experience in HR tech businesses, including a pivotal role at IBM, is set to further Huler’s growth and market reach.
Nicky Hoyland, Huler’s Co-Founder and CEO, stated, “As hybrid and remote working become the new norm, our reliance on technology for connectivity and productivity has never been more critical. However, disjointed and cumbersome tech can lead to burnout and reduced engagement. HulerHub is designed to simplify work processes. This investment is a testament to our commitment to enhance our product and drive revenue growth, delivering maximum value to our clients.”
Kiran Mehta, Investment Manager at Mercia Ventures, commented, “The employee engagement sector is a rapidly expanding market. Huler’s platform was the most advanced at the time of our initial investment, and its progression has been impressive. This investment will enable Huler to capitalize on market opportunities and aim for a leading position in its field.”
Keira Shepperson, Investment Director of Regional Funding at the British Business Bank, remarked, “The MEIF Proof of Concept & Early Stage Fund is dedicated to investing in SMEs with innovative ideas, supporting growth and long-term investment in the wider Midlands region. Huler exemplifies our ongoing commitment to innovative companies, creating new job opportunities through funding. The MEIF encourages similar startups and SMEs to explore available funding options to support their growth.”
This investment is also supported by the European Union, with 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.
SOURCE Huler
