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A supply teacher agency in Stoke-on-Trent has secured a £500,000 funding boost.
The Supply Register has received the money from the Midlands Engine Investment Fund (MEIF) Equity Finance Fund, managed by venture capital firm Midven.
Established in 2016 by Baljinder Kuller, The Supply Register provides schools with direct access to supply cover from educational professionals and agencies.
This co-investment from existing investors and the MEIF will allow The Supply Register to reinforce the servicing of schools within its present catchment areas and transform the way supply recruitment is approached in new regions, such as the East and South of England.
To do this, the company will hire additional staff to work closely with a growing number of partnership locations and also add to its central team based in Stoke-on-Trent.
Kuller said: “Through our ‘bank first’ approach, The Supply Register helps education providers reduce disruption while tackling budgetary constraints and skill shortages.
“It does so by providing recruitment solutions and bridging them towards appropriate talent pools.
“We are proud to have partnered with Midven and the MEIF as the Midlands has always been home to some of the world’s most innovative businesses and dynamic entrepreneurs.
“Opportunities like this for founders like me are a clear indicator that the Midlands is being put at the heart of plans to level up parts of the country.
“The commitment towards the Midlands economy dovetails with our own vision to help schools drive better value when procuring supply cover while ensuring educators are remunerated appropriately for their efforts in the classroom.”
Giovanni Finocchio, investment director of Midven, added: “The Supply Register was identified as an investable proposition by Midven when founder, Baljinder Kuller attended an investment readiness workshop.
“We believe with The Supply Register’s industry knowledge teamed with its clever use of technology will revolutionise the way schools, teachers and agencies remain connected.
“We are excited to see this gap being filled. It is also very encouraging to see that Stoke-on-Trent is home to such emerging and innovative industry disruptors like The Supply Register.”
During 2019 the Midlands Engine Investment Fund has made great progress in delivering on its mission to provide businesses across the Midlands with the funding needed to grow and to benefit the wider Midlands community, but there is still more to do.
With a number of further MEIF investments in the pipeline to be announced shortly, 2020 is already set to be an exciting year for businesses benefiting from Midven’s investment and advice. However, with a strong appetite to invest even more significantly during the coming 12 months we are keen to speak to more high growth potential businesses. So if you are a start-up, early-stage or established business located in:
find out more about the MEIF and get in touch here.