Substantial fund investment for RecruitmentForce

RecruitmentForce designs and implements software solutions for the recruitment industry, which helps companies source, engage and place more candidates.

The firm aims to increase the number of users to around 7,000 within the next three years, as well as growing its revenues by ten per cent on a month-by-month basis.

To help provide the extra staff, training and product development capacity required to achieve these goals, the company’s management team has worked with regional fund management firm NEL Fund Managers to secure backing from the Growth Fund.

RecruitmentForce has also received investment from another regional fund manager, Northstar Ventures, since 2010 totalling over £900,000 between its two FBNE funds, the Proof of Concept and Accelerator funds.

Five new jobs have already been created, to take the company’s workforce up to 21, and the company expects to have 30 employees by the end of the year.

Chief executive and co-founder Eldon Jobe says: “Technology and social media have had a major impact on the recruitment sector, with consultancies having to manage a huge range of information with both speed and efficiency.

“We’re increasingly finding that many larger firms are taking their recruitment function back in-house to manage it themselves, and our systems can be adapted to suit these companies’ requirements, which gives us great potential for an additional income stream.”

Jane Siddle, investment executive at NEL Fund Managers, adds: “Recruitment Force has established a strong position in a niche market and their plans for the coming years presented us with a very credible investment opportunity.”

Ian Richards, director at Northstar Ventures, says: “It is great to see Recruitment Force receiving further funding to assist it with its growth plans. It has established itself well to date, and this new funding round will enable it to take on a number of larger clients.”