Newcastle investment firm backs growing hospitality tech firm with £100k
Newcastle investment firm Middleton Enterprises has invested £100k in Rota, which provides a network for hospitality venues to connect with temporary staff through an app.
The business, which raised £1.8m from business angels, has recently recruited five new staff to accelerate its expansion, and has so far fulfilled 27,000 shifts.
The app, which has over 1,000 active staff, provides on demand staff for the hospitality sector and is currently operating in Manchester, Birmingham, London, Edinburgh and Leeds, with plans to expand into six new cities in the next two years.
The digital company has 136 clients, including Hilton, Marriot and Sheraton hotels, with the number of active partners having grown by 221% in the last 12 months.
David Alprovich, Commercial Director at Middleton Enterprises, said: “We are always looking for innovative companies to invest in. Particularly businesses that have developed new and exciting technologies thatimprove everyday processes.
“In Rota, we identified a fast growing and scalable software business that had spotted inefficiencies in the hospitality temporary staffing market and developed an effective solution.
“The management team have a credible business plan which shows significant growth and profitability.
“The model can be rolled out into new cities, vertical sectors and potentially internationally. Digital market place solutions could completely displace traditional temporary recruitment agents in the medium term.
“We are confident that with the right investment, they will be able to realise their business objectives and we see the prospect of future investment, building a larger shareholding in the coming years.”
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