HR DataHub has raised £1 million in funding following a huge increase in FTSE 100 companies seeking a reliable way to measure progress on their diversity and inclusion agenda.
HR DataHub will use the seed round – led by the Angel CoFund and backed by an angel syndicate – to develop further and scale the benchmarking platform globally.
The data hub already works with some of the UK’s largest companies, such as Thames Water, Next plc, GVC Holdings plc and DS Smith plc, providing unbiased data-led insight and access to a proprietary database sourced from 250+ companies.
The platform allows clients to track, measure and act on all HR issues, including diversity and inclusion, employee relations, recruitment, engagement, learning and development, and reward.
Support of an angel
The angel syndicate of seasoned HR experts include Chris Bruce and Michael Whitfield, founders of the hugely successful Thomsons Online Benefits; Oliver and Ben Black, founders of My Family Care and Tinies businesses; and HR DataHub’s new Chairman, Ian Dyke.
Following the ongoing cultural shift to embrace workplace diversity and inclusion and having been brought to global attention by the Black Lives Matter movement, HR DataHub has seen a groundswell in demand from organisations seeking to address issues such as diversity, inclusion and the ethnicity pay gap.
The company is collaborating alongside blue-chip names such as Transport for London, Dixons Carphone plc, EDF plc, Schroders Personal Wealth and Heathrow Airport on its ground-breaking sector-led Ethnicity Forums.
David Whitfield, the MD of HR DataHub, commented: “Our vision is for any size company, in any sector, to have access to business-critical HR data. We aim to help all clients navigate some of the most difficult employment issues that they are facing today.”
Armed with insights
HR DataHub said its experience suggests that companies are ready and willing to address HR issues within their businesses; they just need to be armed with the insights to do it.
Said Whitfield: “Our platform can be instantly transformative to clients, as well as delivering material cost savings to businesses of all sizes. We are delighted to have such a strong, experienced and engaged syndicate of angel investors, as well as The Angel CoFund on board to help us capitalise on the huge growth we are seeing.”
George Whitehead, Partner, The Angel CoFund, commented: “One of the most important quotes in business management is, ‘If you can’t measure it, you can’t improve it’, and HR DataHub gives businesses of all sizes the ability to do just that.
“Management teams, often for the first time, are given a clear view of their standing amongst their peers on fundamental issues like employee remuneration, gender pay gap and diversity. David has attracted a syndicate of hands-on, sector smart investors who have a huge depth of experience in scaling HR technology businesses.”
Chris Bruce, a lead angel investor, commented: “Closing a funding round during a period of economic downturn and global turmoil is testament to how ground-breaking the technology the team at HR DataHub have created is.
“From my own experience of founding a technology business during the dotcom crash of the early 2000s, the companies that succeed are the ones that are tapped into the current environment, have identified an opportunity, and are delivering something truly innovative. HR DataHub ticks those boxes. Its market traction is proof of how much this data is needed in the corporate world. David and his team have created a truly innovative product that can fundamentally change how companies organise their workforce.”