Newcastle SME intranet provider secures £2.1m seed funding for national expansion
A North East intranet specialist has secured £2.1m additional seed funding in a round led by existing investor Maven Capital Partners.
Oak Intranet has secured the multi-million pound investment to expand operations across the country.
Founded in 2016, Oak Intranet organises departments, news, teams, projects and internal communication through its mobile app and SaaS platform.
Since launching, the Newcastle-based company has worked with brands such as Aldi, Halfords, ITV, REISS and River Island.
This latest funding follows a restructure of the company’s leadership team, and coincides with a move to a new office at Generator Studios in Newcastle city centre.
Will Murray, CEO at Oak, commented: “Oak is an amazing product with tremendous potential. It enables organisations to engage their employees including deskless workers and provides a range of internal communications tools that integrate seamlessly with office applications.
“We are thankful for the great funding partners we have in Maven, NorthStar Ventures and Finance Durham and look forward to working with them as Oak scales.”
Michael Vassallo, investment director at Maven, added: “Oak are pioneers in developing and selling intranet solutions, the platform addresses a large and growing market focused on the digital workplace.
“We are delighted to lead the latest funding round to continue to support the roll-out of its innovative cloud-based software and enable the business to execute a number of exciting new developments.”
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