Thirsty Horses drinks from the North West Fund
A LIVERPOOL-based firm, that specialises in human resources software, has secured a £500,000 investment from the North West Fund.
Thirsty Horses plans to take on 29 people over the next three years by driving sales of its Inspire system.
The business was co-founded by chief executive Ray Pendleton, the former director of organisational development at Aintree University Hospital, and Maurice Spillane.
It says its Inspire system allows managers to set goals, guide their teams and recognise outstanding performance. It also incorporates diagnostic tools to help managers monitor the progress of change management programmes.
The system has been trialled in organisations throughout the UK, ranging from local authorities to hospitals and large corporates.
Mr Pendleton said: “I am thrilled to have secured the investment that will allow the company to deliver its plans for growth. I regularly speak with leaders from all sectors and it’s clear that, especially in these austere times, there is a need for an approach that empowers people to act in a way that is aligned to organisational goals and values.
“Inspire has been proven to do this and, with the team I am now growing, I look forward to continuing to help leaders optimise their performance by engaging their biggest assets – their people.”
The investment has come from the North West Fund’s venture capital arm, managed by Enterprise Ventures. As part of the deal Glyn Read, chairman of Sale-based virtual reality business Virtalis, has been appointed as chairman. Fintan Kelly, director of technology at Irish software firm Appligenics, has also joined the board.
Andrew O’Mahony from Brabners Chaffe Street in Liverpool provided legal advice to fund while Phil Whitehurst from DWF in Liverpool acted for the company.
