Stoke-on-Trent-based The Supply Register (TSR), has secured further funding from venture capital firm Midven through the Midlands Engine Investment Fund (MEIF).
The company, which has created an online teacher recruitment platform, is using the funding to accelerate the next phase of its growth as schools return and Covid-19 restrictions ease. This follows The Supply Register experiencing a surge in demand for its services.
An existing portfolio company of Midven, The Supply Register will also use the new investment to make several key hires, supporting its ambitious development plans.
Founded in 2016 by Baljinder Kuller, The Supply Register’s mission is to transform recruitment in education through a cloud-based solution built with schools in mind. The recruitment platform offers real-time, direct connections between schools and educational professionals, reducing administrative and financial costs.
By eliminating the challenges school leaders face when recruiting, The Supply Register aims to build lasting partnerships with institutions by transforming existing hiring methods and delivering a total recruitment solution.
The initial investment from Midven and MEIF helped The Supply Register to expand its customer base by broadening its geographical reach into new regions. The follow-on investment will see the recruitment platform provider boosting its efforts ready to support schools in post-pandemic recruitment.
Baljinder Kuller, founding director of The Supply Register, said: “Despite the challenges of the past twelve months, The Supply Register continues to attract education leaders that are seeking a better way to manage their supply cover recruitment. We have continued to implement our solution further in existing territories while expanding into new ones. The continued support and further investment from Midven will allow us to innovate further and grow our customer-facing teams with the best education recruitment talent to support schools and education professionals who are increasingly using our portals.”
Giovanni Finnochio, investment director at Midven, said: “We are pleased with the progress that The Supply Register has made during the last fifteen months. Despite a global pandemic which has impacted schools and education, the overall demand for The Supply Register’s supply teaching management software has grown. It is reassuring to see The Supply Register grow its customer base during a phase of global economic uncertainty. This funding will enable the company to continue its growth strategy and follow its plan.”
Ryan Cartwright, senior manager at the British Business Bank, said: “The MEIF and its fund managers are well placed to provide follow-on funding to businesses as they progress on their growth journeys. This latest investment by Midven in The Supply Register is a good example of this support in action and is set to enable the company to expand its team to meet the growing demand for its services.”
Alun Rogers, chair of Stoke and Staffordshire LEP, said: “It is heartening to see a business like The Supply Register go from strength-to-strength, particularly off the back of the last year which has been so difficult for many sectors, but particularly those in education. Stoke-on-Trent is a hub for teaching excellence, and platforms like The Supply Register help to ensure that even temporary posts are filled with talented and driven employees. As we start to come out of lockdown and adapt to life post-pandemic, I look forward to even more teaching roles being taken up by talented individuals and companies like The Supply Register continuing to grow, innovate and thrive.”