We are absolutely delighted to announce that we have closed a Series A investment round of £2.5 million to help invest in even better results and outcomes for our clients and members.
Led by one of the UK’s leading private equity firms Maven Capital Partners, this funding enables us to expand our audience size and invest in our proprietary technology platform so that we can continue to help leading employers recruit their next generation of talent more effectively than ever before.
We founded Bright Network with a simple mission: To create a free-to-join innovative community of the brightest students and connect them with the best career opportunities.
As well as investing in sales and marketing for our existing Enterprise platform, we will also be launching a new SaaS service for the larger, but more fragmented SME and high growth startup market. ‘High Growth’ will provide human resources managers in these scaling organisations with a greater number of high quality and relevant applications, helping speed up the recruitment process, delivering significant cost efficiencies.
Five years since we started and over 10,000 placed candidates later, we now have a community of 150,000+ members – all of whom are studying at, or have graduated from university. Diversity remains crucial to our mission in helping the brightest get ahead in their careers – 75% of our membership is state-educated, 40% BAME (Black, Asian, Minority Ethnic) category and 58% is female.
Zach Miles, who was the founder and latterly CEO of Vedior, a multinational recruitment company, which was acquired by Randstad for €3.3bn in 2008 remains as chairman.
Melanie Goward, Investment Director at Maven, said:
“We are delighted to lead the fundraising for Bright Network. The highly driven management team, led by James Uffindell, who has proven experience delivering shareholder value by exiting similar businesses in the sector, has developed a clear strategy to grow the business profitability through its existing and new product lines.
In High Growth, James has identified a gap in the SME graduate recruitment market focused on helping employers easily recognise and reach the brightest graduates and young professionals and we looking forward to working with him and the team over the coming months and years.”
At Bright Network, we are delighted to be working with Maven Capital Partners. The expertise they will bring will be transformative, while this investment allows us to expand our reach and help even more students to secure internships and graduate roles with the world’s leading employers.
Today is an important milestone for Bright Network. All young people, regardless of their economic and social background, ethnicity, sexuality and gender deserve the best advice. This investment enables us to help organisations find their next generation of talent more effectively and help thousands of students discover and fulfil their career potential.
Our investment has been featured in the following news & press:
- The Sunday Times
- UK Tech News
- Business Leader
- Business Cloud
- Tech London
- Angel News
- The Recruiter
- Venture Canvas
For more information about the investment, please contact James Uffindell directly – 0203 011 1612 / email@example.com
For press and media enquiries, please contact Beth Gray, Seven Hills – 020 7199 6196 / firstname.lastname@example.org