MBA & Company has returned to its venture capital backers to raise £800,000 of new growth capital.
Business services firm MBA & Company has now raised in excess of £2 million worth of equity funding following its latest transaction.
The company, which provides services relating to providing a ‘highly skilled and flexible workforce’ for project work, has again secured investment from MMC Ventures.
MBA & Company says its offering differs from the traditional hiring of interims and consultancies and accesses a $30 billion global market for short-term strategic and operational project work.
Growth in the last year has seen the business increase average project size by 50 per cent to £18,000 and achieve return use from 80 per cent of clients.
Daniel Callaghan, founder and CEO of MBA & Company, says, ‘Our business model removes the high cost barriers to having great work delivered by the best independent consultants available.
‘This means companies can explore more opportunities to grow faster, benefiting them and the wider economy.’
The investment is the second made by MMC Ventures, and the £800,000 will be put to work scaling MBA & Company overseas as well as developing a new on-demand model of delivering ad hoc work.
Back in April 2013, MMC Ventures led a separate £800,000 investment alongside Piton Capital and existing supporter Cabides. To coincide with that deal, MBA & Company recruited ex-COO of eBay and Lastminute.com David Kelly and Madbid.com co-founder Aleksi Asikainen.
More on MMC Ventures:
- MMC Ventures backs Base79 rebranding
- New venture capital investors for NewVoiceMedia
- UK mobile firm Masabi nets $2.8 million investment
MBA & Company now has a pool of 20,000 consultants in 130 countries and works with customers including General Motors, Pizza Hut and Sharp.
Jon Coker, partner at MMC Ventures, comments, ‘At MMC we are always looking for businesses that are using technology to disrupt an industry, and have strong potential to scale globally.
‘MBA & Company’s platform has both of these qualities, and is well placed to take advantage of the changing way industry leaders around the world are procuring talent for project-based work.’