Midven makes intelligent move

A COMPANY which supplies software helping businesses to increase the performance of staff and deliver cost savings has received funding from Midven’s Early Advantage fund.

Activ8 Intelligence, based in Nottinghamshire, offers HR reporting and analytic solutions, helping organisations recruit the best people, drive down absence at work and improve the returns from investment in training.

Birmingham-based Midven is a privately owned commercial venture fund manager which manages five funds representing £61m under management. The £8m Early Advantage fund provides investment for small, high growth start up and early stage businesses.

Activ8 – founded in 2005 – supplies software which combines and cleanses people-related data from across the business then helps identify the factors that drive HR success.

As well as receiving an undisclosed amount of investment from the Early Advantage fund, Activ8 has also attracted money from existing investors and new business angels. The move will allow the company to expand its resources and focus on driving sales.

Activ8 managing director Matthew Lymbery said the investment is key in delivering plans for growth in 2012, as the company continues to deliver benefits to businesses, which are increasingly understanding how valuable the analytics software can be.

Early Advantage fund investment director Duncan Kerr said: “This is a business that has been through the start-up phase and is now in the growth phase. It has some very high profile customers who have proven business benefits from the software.

“The company also has excellent management who have built up strong relationships with a number of channel partners.”