Founder of ROTA, Tom Williams with recently appointed CEO, Stephen Segel
Staffing app, ROTA, has closed its latest funding round with an additional £1.8m in investment.
Headquartered in London, the tech-focused firm has sought to revolutionise recruitment processes, through the supply of high-quality staff to venues in five major cities across the UK.
This latest funding round saw ROTA secure additional capital from current investors, many from the VC community, together with new investment from several high net worth individuals.
The £1.8m raised will enable the firm to expand its UK footprint and extend its existing service offering, whilst advancing current technologies.
A key focus will be the development of the firm’s ability to quickly fill large numbers of shifts with high-quality staff members. It is hoped that this will ensure ROTA remains at the forefront of staffing technology, whilst benefitting hospitality partners UK-wide.
The successful funding round follows the recent appointment of the tech firm’s new CEO, Stephen Segel, who boasts extensive experience in leading fast-growth businesses through to exit.
Segel confirmed: "The additional funding raised from our current investors reflects their continued engagement in ROTA's value creation opportunity. They are joined by new investors, who understand how our scaled technology and quality member-partner engagement will continue to accelerate ROTA to grow our marketplace.”
“I lead a highly capable team as we continue to double revenues year-on-year, and we are both excited and very determined to ensure that while we improve our members’ and partners’ experience of staffing, we also create sustainable value for our shareholders."
Co-founded by previous hotel manager, Tom Williams, out of the frustration of relying on temporary staffing agencies, ROTA now has over 5,000 active members and operates in London, Birmingham, Manchester, Leeds, Edinburgh and Glasgow.
Its partners include hotels, caterers, restaurants, venues, events and stadia, such as Intercontinental Hotels, Compass Group, Manchester Arena and Hearts Football Club.
Since inception, the firm has doubled revenue year-on-year and is on track to again double its revenue in 2019.
Investor directors of Rota, Mark Farmer of Eden Ventures, and Mark Jaffray of Chimera Partners jointly added: "With the additional investment, and our recent CEO Stephen Segel joining the business, we have continuity in an experienced senior executive and the additional funds to develop our technology and marketplace, together with even more confidence and engagement from our shareholders."
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