Hive HR raises US$700,000 in growth round

UK-based employee voice platform Hive HR has raised £500,000 (US$700,000) in a growth round led by Maven Capital Partners and with the participation of the government-backed Future Fund. This is its second funding round in less than a year—the company raised £1.75 million (US$2.48 million) in November 2020, with that round also led by Maven.

The funding will be used to drive outbound sales and the growth of the company's digital presence. According to the company, the new investment follows six months of consistent growth.

Hive was founded in 2015 by Chief Executive Officer John Ryder, with the objective of providing a confidential platform for employees to voice opinions and give feedback. The platform uses a SaaS model to deliver tools for employee surveys, peer recognition, and manager-to-employee communication. After pandemic lockdowns began, the company shifted its model to cover employee engagement for remote workers.

Ryder said: “The pandemic has placed the spotlight on some very distinctive issues that elevate the case for employee voice further, such as remote and flexible working, well-being, inclusion, and culture. So it’s great that we now have even more resources to continue to grow the business.”