Investment Promotes Exponential Growth for The Supply Register
Investment has resulted in office expansion across the UK, doubling employee numbers and achieving a 500% growth in annual client value.
Results
Through the MEIF investment The Supply Register (TSR) has experienced exponential growth, by:
- Expanding its team at its Stoke head office and sites across the UK
- Doubling employee numbers
- Growing their annual value of clients by 500%
- Tripling the number of days filled in the last two years
“Midven has been supportive throughout the investment process and is always available. Our partnership adds a great deal of value to realising the businesses’ growth strategy. I have independence to run the business, but Midven invests time, effort and resources to achieve the business goals and objectives, to ensure I maintain the growth trajectory. The professional and supportive expertise given is invaluable as well as the numerous introductions to useful contacts and connections. There are also follow-on investment opportunities if expectations are met which offers us an opportunity to continue our growth.”
– Baljinder Kuller, Founder & Managing Director The Supply Register Ltd
Investment and Midven’s involvement
TSR has received two rounds of investment through Midven. The investments have improved talent acquisition by enabling the company to employ higher-skilled individuals and affording the development of existing hires. In addition, the company has updated and implemented new branding which has increased brand awareness by improving visibility and positioning in the industry. This helped TSR to expand its customer base and enabled them to boost efforts in supporting schools post-pandemic.
Midven’s Giovanni Finocchio acts as a sounding board on business development and strategy. He also ensures that TSR follows its investment trajectory, providing structure to business objectives and offering accountability throughout the process. Through the investment partnership with Midven, TSR has also been introduced to useful connections and access to vital associations that positively impact the business and better enable them to achieve their growth strategy.
Converting TSR from prospect to investment
After having submitted an unsuccessful application, Kuller attended Midven’s Investment Readiness Workshop. Applying his learnings, he presented a winning business plan that clearly defined the objectives and motivated the investment.
Pairing Baljinder Kuller’s 13 years of industry experience, his drive and a credible business plan made the new application a success. His knowledge and understanding of the education sector, as well as identifying opportunities for growth, built confidence with Midven. This positioned TSR as a business that would develop in a sector that is stable and has investment potential.
Who is The Supply Register?
TSR was established in 2016 by Baljinder Kuller to provide educational recruitment services. He recognised a shift in provision from local authority staff banks to supply cover being met by traditional private sector recruitment agencies. The company therefore entered the market with a disruptive, online end-to-end platform.
In real-time, the platform directly connects schools looking for supply provision with educational professionals and agencies offering the most cost-effective cover. TSR enables schools to build their own staff talent banks, paying successful candidates a higher market rate, while reducing the recruitment cost by up to 25%.