MBA & Company raises GBP800,000 from MMC and Piton Capital
MBA & Company has raised GBP800,000 from existing investors MMC Ventures and Piton Capital, taking the company’s total funding to over GBP2m.
MBA & Company’s service is an alternative to traditional hiring of interims and consultancies, by providing a marketplace that connects businesses of all sizes to a vetted pool of high quality project professionals.
This taps into the USD30bn global market for short-term strategic and operational project work, and takes advantage of industry leaders’ desire to find an alternative to the slow and expensive management consultancy model.
With 20,000 consultants in its network, MBA & Company has grown geographically, and in breadth of expertise, to become equivalent in size to a global top-ten management consultancy firm. Strategic and operational projects have been completed in 50 countries and across 40 industries, collectively saving its clients GBP30m compared to using traditional consultancies.
Over the last 12 months, the curated service has seen average project size increase 50 per cent to GBP18,000 whilst client satisfaction increase from 98 per cent to 99 per cent, and over 80 per cent of new clients use the platform more than once.
Clients range from entrepreneurs looking for pre-launch research and support, through to multinational companies and investment houses. Recent projects have been completed for Rubicon Partners, HgCapital, General Motors, Pizza Hut and Sharp.
This latest funding is the second phase of last year’s MMC Ventures and Piton Capital funding round, and will be used to scale the business internationally and to a new on-demand model of having ad hoc project work delivered through instant access to the global pool of independent professionals.
Daniel Callaghan, founder and CEO of MBA & Company, says: “We offer a solution to executives looking for faster, and more cost-effective, ways to have projects delivered. Our business model removes the high cost barriers to having great work delivered by the best independent consultants available. This means companies can explore more opportunities to grow faster, benefiting them and the wider economy.”
Jon Coker, partner at MMC Ventures, says: “At MMC we are always looking for businesses that are using technology to disrupt an industry, and have strong potential to scale globally. MBA & Company’s platform has both of these qualities, and is well placed to take advantage of the changing way industry leaders around the world are procuring talent for project based work.”
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