HR DataHub raises £1m seed round following huge increase in demand for reliable benchmarking data to inform policies in global companies
London, 15 September, 2020: HR DataHub, the HR data benchmarking platform, has raised a £1m seed round led by the Angel CoFund and backed by an angel syndicate of seasoned HR experts including Chris Bruce and Michael Whitfield, founders of the hugely successful Thomsons Online Benefits; Oliver and Ben Black, founders of My Family Care and Tinies businesses; and HR DataHub’s new Chairman, Ian Dyke. The funding will be used to further develop and scale the platform both domestically, and internationally.
HR DataHub is already working with some of the UK’s largest companies, such as, Thames Water, Next plc, and GVC Holdings plc to provide objective, unbiased data-led insight for all areas of HR. HR DataHub gives business leaders direct access to a unique proprietary database sourced from 250+ companies, that allows clients to track, measure and take action on all HR issues, including diversity and inclusion, employee relations, recruitment, engagement, learning and development, and reward. The 250+ companies signed up to date represent over four million employees, covering all major sectors.
Following the ongoing cultural shift to embrace workplace diversity and inclusion, and having been brought to global attention by the Black Lives Matter movement, HR DataHub has seen a ground swell in demand from organisations seeking to address issues such as diversity, inclusion and the ethnicity pay gap. The company is collaborating alongside blue-chip names such as Transport for London, Dixons Carphone plc, EDF plc, Schroders Personal Wealth and Heathrow Airport on its groundbreaking sector-led Ethnicity Forums.
David Whitfield, the MD of HR Datahub, commented:
“Our vision is for any size company, in any sector, to have access to business-critical HR data. We aim to help all clients navigate some of the most difficult employment issues that they are facing today. Our experience has shown us that companies are ready and willing to address HR issues within their businesses, they just need to be armed with the insights to do it. Our platform can be instantly transformative to clients, as well as delivering material cost savings to businesses of all sizes. We are delighted to have such a strong, experienced and engaged syndicate of angel investors, as well as the Angel CoFund on board to help us capitalise on the huge growth we are seeing.”
George Whitehead, Partner, The Angel CoFund, commented:
“One of the most important quotes in business management is, ‘If you can’t measure it, you can’t improve it’, and HR DataHub gives businesses of all sizes the ability to do just that. Management teams, often for the first time, are given a clear view of their standing amongst their peers on fundamental issues like employee remuneration, gender pay gap and diversity. David has attracted a syndicate of hands-on, sector smart investors who have a huge depth of experience in scaling HR technology businesses. With this world class team, HR DataHub has the ambition and potential to revolutionise how companies benchmark their employee data. We are excited to see the next steps of the platform and company come to fruition.”
Chris Bruce, lead angel investor, commented:
“Closing a funding round during a period of economic downturn and global turmoil is testament to how ground-breaking the technology the team at HR DataHub team have created is. From my own experience of founding a technology business during the dotcom crash of the early 2000s, the companies that succeed are the ones that are tapped into the current environment, have identified an opportunity, and are delivering something truly innovative. HR DataHub ticks those boxes. Its market traction is proof of how much this data is needed in the corporate world. David and his team have created a truly innovative product that can fundamentally change how companies organise their workforce.”
About HR DataHub
HR DataHub is a unique external HR Benchmarking platform designed to be simple to use and fully customisable. The breadth and depth of data held within the platform means that HR DataHub can be a transformational resource for the structure and cost base of organisations, while empowering them with tools to tackle issues that are right at the top of the boardroom agenda including reward, diversity, employee relations, recruitment, engagement, talent, learning & development, HR efficiency, and the gender and ethnicity pay gaps.
HR DataHub aspires to democratise HR benchmarking data, enabling organisations of any size to get access quickly and at low cost to the unbiased, objective information that they need in order to make evidence based decisions.
The findings of HR DataHub’s recently published proprietary research into the Ethnicity Pay Gap publicly reported by 82 organisations further endorses the potential power of the HR DataHub platform. The report identifies 27 common measures taken by organisations to reduce their ethnicity pay gap and the impact that they have made. From this work, it is clear that to truly make a difference, organisations must have strong board sponsorship and have the right data to set targets, take action and be held to account.
To find out more, visit: https://www.hrdatahub.com/
About The Angel CoFund
Launched in 2011, the Angel CoFund (ACF) is a privately managed and commercially focused institution that works alongside groups of business angels to invest in high potential SMEs across the UK, directly providing funding as well as encouraging the expansion and development of the business angel market.
To date the ACF has supported 80 companies (for example Ebury, Gousto, Crowd Vision and Hopster) providing more than £40 million in direct investment alongside more than £200m from business angels and other investors, making it one of the most active early stage investors in the country. The ACF is a long-term investor and, in aggregate, sets aside £1 of further capital for every £1 it invests. This model gives portfolio companies and co-investors the support they need to propel strong growth.
To find out more, please visit angelcofund.co.uk