Manchester tech scale-up secures additional £1.5m of funding
Technology start-up Broadstone has extended its funding by £1.5m in order to service major contract wins, scale operations and accelerate development.
The latest investment, made by existing investors Maven Capital on behalf of the Northern Powerhouse Investment Fund, takes the total raised by Broadstone to £2.5m.
The Manchester-based company’s ‘Labour-as-a-Service’ platform draws on data, automation and gamification to connect large corporate organisatons to individuals looking for temporary work.
In just under two years since launch, Broadstone’s platform has gained more than 30,000 users in the UK and won contracts with G4S, ISS World and OCS.
Co-founder & CEO Tom Pickersgill said: "Labour-as-a-Service is growing fast in recognition as a term, and as the market leader in regulated industries we are well-placed to strengthen our position.
“We've recently seen Uber moving into this market with Uber Works, demonstrating the model’s strategic importance. In fact, The Economist predicts that by 2029 all workers will be listed on at least one labour platform – this presenting Broadstone with a huge market opportunity.
“The investment has come at a crucial time in our evolution as it will allow us to accelerate the creation of a new product roadmap and roll out a number of new capabilities for our expanding customer base of global players.
“Winning contracts with organisations like G4S and OCS, gives us a real opportunity to expand our operations into multiple sectors and geographies, whilst giving us the scale to fundamentally redefine the way people search for work, get paid and prove they qualify for roles.
“Longer-term we have ambitious plans to establish our model in key markets – the US being one we want to move into by 2021."