HR DataHub, a company that has created tools for HR departments to compare themselves against other businesses, has secured £1.4m from investors.
The Houghton Conquest, Bedfordshire-based HR tech firm is used by 160 organisations including M&S, EDF Energy, Greene King, DHL and Michelin.
Stephen Windsor, investor at Mercia, said: “HR Datahub offers labour market analysis without the expense of consultants or salary surveys.
“With upwards pressure on wages, HR DataHub could help organisations align pay and benefits more effectively with the market to improve employee retention and enable cost savings.”
HR departments can compare themselves on criteria such as pay, retention, employee engagement and diversity to local or the same sector companies.
Founded in 2018, the company is looking to grow its headcount in the coming 18 months from 10 to 30 and plans to expand client numbers to more than 500 in five years.
Its annual revenue is £650,000, according to the company.
“The world of work has never been more complex, so it is important that organisations make decisions based on accurate data,” said HR Datahub COO, Alexa Grellet. “At HR Datahub our mission is to give them the analysis and the insights they need.”
HR Datahub’s £1.4m came from the MEIF Proof of Concept & Early Stage Fund, Mercia’s EIS funds, the Angel Co-Fund and private investors.
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