e-days Absence Management, a provider of employee leave tracking and absentee management software, has secured a seven-figure funding line from Yorkshire Bank to invest in the future growth of the business.
The latest round of bank funding follows a seven-figure investment from Palatine Impact in November 2017. The private equity firm backed the business from its GBP100 million fund, which targets investments up to GBP10 million in businesses with a positive social and/or environmental impact alongside industry-standard returns.
The Nottingham-based company offers its customers employee absence management tools designed to improve operational efficiencies and reduce absenteeism. The tool manages, processes and tracks employee leave and sickness, providing analytics to managers looking to both improve employee wellbeing and make efficiency improvements across their organisations.
Established in 2005, e-days has grown the number of software users to over 200,000 with over 1,200 clients across 80 countries. Customers include Canon, Interserve, as well as Health & Safety Executive, Sony Music and Sony Pictures.
The additional funding will be used to support the future growth of the e-days business, as it looks to continuously develop its commercial offering. The company also continues to expand the senior management team, having recently employed Richard Gingell as Financial Director.
Steve Arnold, CEO at e-days, says: “The Bank has been very enthusiastic about supporting the e-days business and helping us deliver our ambitious growth agenda.”
Craig Cheetham, Senior Director at Yorkshire Bank, says: “e-days is a rapidly expanding innovative company with a diverse range of clients operating with a truly global offering. We are excited to work with the e-days team and Palatine and are delighted to play a part in their current and future growth plans.”
James Gregson, Investment Director at Palatine Impact, says: “We’re proud to continue to support the e-days management team as the company continues to grow. The specialist software helps businesses to significantly improve absence management which is beneficial to both operational efficiency and employee wellbeing.”
Yorkshire Bank was advised by Gateley Plc, whilst Palatine Private Equity was advised by Gowling WLG.
