Innovantage 'recruits' Finance Wales for investment
Sourcing online job adverts with next generation search
technologies to provide lead generation for recruitment agencies
and job boards is providing rapid growth opportunities for a
Cardiff based software company, with support from Finance
Innovantage is positioning itself as one of the key players within
the UK recruitment intelligence market after developing Insight, a
sophisticated web technology that harvests job advertisements from
more than 400,000 direct employer company websites. Insight
provides job vacancies in a structured format to recruitment
agencies and job boards to accelerate lead generation, business
development and market research.
Launched in mid 2006, Innovantage has already taken Insight to
market and is planning to develop the product further with funding
provided through a co-investment between Finance Wales and HSBC.
The overall package includes a six figure equity and debt
investment from Finance Wales.
“This is an exciting time for Innovantage,” said Matthew
Dewstowe, Managing Director. “This first round of funding allows us
to continue with the product development the market demands. We are
aiming to be the de-facto provider of recruitment intelligence in
Insight was developed in-house by Innovantage at its
headquarters in Cathedral Road, Cardiff, with technology partners
Ontotext. The company is looking to develop the product in line
with market demands as well as bringing new data intelligence
products to market for other sectors.
Karen Davies, Investment Executive at Finance Wales, said:
“Innovantage required a tailored solution to its funding
requirements to enable it to develop its product base further.
Working with Finance Wales and HSBC, Innovantage now has a
co-investment package that can accelerate its high growth potential
and support its long-term plans.”