Hike SEO, a Leicestershire-based start-up, has raised £675,000 in an investment round led by DSW Ventures with co-investment from incumbent investor, Jenson Funding Partners.

Hike’s DIY search engine optimisation (SEO) platform is designed to help small businesses improve their visibility on Google in a cost-efficient but highly effective way. The product tells the user what they need to know to build a bespoke SEO strategy – and then guides them through the execution of that strategy. Hike’s customers can optimise their online presence without the significant cost of engaging a specialist consultant.

Hike’s software is also aimed at digital agencies, allowing them to deliver SEO services as an additional value-add service to their clients.

The company, which is based in Lutterworth, was founded by CEO Andrew Allen and CTO Kieran Headley, who worked together as SEO experts before starting the business in February 2017. Since then Hike has grown rapidly, and now has over 1,000 customers and annual revenues of over £1 million.

The funds will be used to further invest in developing the platform and to make key commercial and operational hires.

Hike has also strengthened its board with the recruitment of two seasoned operators. Jim Hodgkins has joined the company as Chair – Jim is the former Managing Director of ContentCal which was sold to Adobe at the end of 2021. The founders have also secured Deborah Jones, former Finance Director of MLS, a private equity-backed software business which exited to Capita, as CFO.

Andy Allen said:

“We’re thrilled to have the support of DSW Ventures and Jenson Funding Partners in our mission to empower small businesses with the tools and knowledge they need to succeed online. With this investment, we’ll be able to develop the product and grow our team to ensure that even more small businesses can benefit from the Hike platform. This funding round marks an exciting new chapter for us at Hike and is a big step forward in achieving our goals for the business.”

Hike becomes the 11th company to join the DSW Ventures portfolio. Emma Cassidy of DSW Ventures commented:

“We were immediately drawn to the scale and speed of growth that Andy and Kieran had achieved with minimal capital, as well as the potential of their product in an underserved area of the SEO market. We are delighted to support such a talented founder team from another very exciting regional software company.”

Weightmans LLP (legal) and Panamoure Consulting (technical) advised to DSW Ventures on the deal, with Founders Law advising Hike SEO.

ENDS

About DSW Ventures

DSW Ventures, based in Manchester, made its first investment in 2018 and is an investor in early-stage scale-up businesses requiring venture funding of more than £250,000, primarily on an EIS basis. It is funded by a growing network of high-net-worth angel investors and British Business Investments. DSW Ventures is the trading style of DSW Venture Capital LLP, which is part of the Dow Schofield Watts Group.

DSW Ventures is a partner in British Business Investments’ £100m Regional Angels Programme, designed to help reduce regional imbalances in access to early-stage equity finance for smaller businesses across the UK.

Dow Schofield Watts is a UK independent advisory and investment group, headquartered in Cheshire and with offices in Manchester, Leeds, Aberdeen, Reading, and London.

About Hike

Hike’s vision is to revolutionise the way small businesses approach SEO by providing them with an easy-to-use, AI-driven, automated platform to optimise their website, enhance online presence and grow their business. The Hike platform analyses the needs of each small business customer, providing them with personalized SEO recommendations and ongoing support to help them succeed in Google. Based in the heart of the UK’s Midlands, Hike is trusted by over 10,000 small business users in over 70 different countries. Find out more at https://hikeseo.co

About British Business Investments

British Business Investments is a commercial subsidiary of the British Business Bank. Its role is to increase the overall supply and diversity of finance – both product and provider – on offer to UK smaller businesses. It does this while providing value for money for UK taxpayers. British Business Investments does not finance small businesses directly, but instead works with the market to provide funding through its delivery partners. These partners offer a range of funding options for small and high-growth businesses across sectors, regions and business stages.