Natural HR, a Birmingham–based firm responsible for developing cloud-based HR software has secured a £250,000 investment. The funds come from leading venture capital firm Midven, using equity finance from the Midlands Engine Investment Fund (MEIF).
Midven has already invested £235,000 into Natural HR since December 2015, seeding the company alongside several private investors.
This latest investment will create 10 new jobs and go towards product development.
Natural HR was incorporated in 2012. Over time its offering has evolved, and with customers in 89 countries, Natural HR’s product now incorporates time management, attendance, performance and expenses.
Giovanni Finocchio, Investment Director at Midven, said: “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.”
Pat Hanlon, Director for Access to Finance for GBSLEP, said: “With access to the right investment and resources, innovative businesses like Natural HR are able to realise their full potential. It not only enables them to create jobs and generate growth, but also expand into new markets. We are keen to support businesses to access the most appropriate type of finance.”
The MEIF project is supported financially by the European Union using 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.