The Supply Register Limited from Stoke-on-Trent has secured a significant investment of which £500,000 has come from the Midlands Engine Investment Fund (MEIF) Equity Finance Fund, managed by venture capital firm Midven.
Established in 2016 by Baljinder Kuller, The Supply Register provides schools direct access to supply cover with educational professionals and agencies, offering cost-effective cover. This online recruitment interface enables schools to build their own talent banks, pay successful candidates a higher market rate and reduce recruitment costs by up to 25%.
Baljinder Kuller’s 15-year track record of resourcing roles and partnership development for local authorities, private sector agencies, initial teacher training providers and teacher unions primes his ability to lead The Supply Register towards transforming the education recruitment sector.
Baljinder Kuller, Founder of The Supply Register, said: “Through our “bank first” approach The Supply Register helps education providers reduce disruption while tackling budgetary constraints and skills shortages by providing them recruitment solutions and bridging them towards appropriate talent pools.
“We are proud to have partnered with Midven and the British Business Bank and although London remains the largest market for investment with 64% in 2017 going to businesses in the capital this region has always been home to some of the world’s most innovative businesses and dynamic entrepreneurs. Opportunities like this for Founders like me are a clear indicator that the Midlands is being put at the heart of plans to level up parts of the country.
The commitment towards the Midlands economy dovetails with our own vision to help schools drive better value when procuring supply cover while ensuring educators are remunerated appropriately for their efforts in the classroom. This co-investment from existing investors and the MEIF will allow The Supply Register to reinforce the servicing of schools within our present catchment areas and transform the way supply recruitment is approached as we expand our reach to new regions like the East and South of England. To do this, The Supply Register will first look at hiring additional Partnership Managers and Executives to work more closely with our growing number of partnership locations and also add to our central team based out of our HQ in Stoke-on-Trent. The team will grow as the company proceeds with its ambitious regional expansion.”
Giovanni Finocchio, Investment Director of Midven said: “The Supply Register was identified as an investable proposition by Midven when the founder of The Supply Register, Baljinder Kuller attended the investment readiness workshop.
“We believe with The Supply Register’s industry knowledge teamed with their clever use of technology will revolutionise the way schools, teachers and agencies to remain connected. We are excited to see this gap being filled. It is also very encouraging to see that the Stoke-on-Trent is home to emerging and innovative industry disruptors like The Supply Register.”
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
The Supply Register (TSR) is a technology-driven recruitment service specifically built for education providers and professionals. At a time when schools, academies and education trusts face recruitment and retention issues, the platform helps education providers make it possible for teaching professionals to receive fair and ethical employment.
The Supply Register accomplishes this by working in partnership with schools to build their own talent banks, pay successful candidates a higher market rate and reduce recruitment costs by up to 25%. By creating a transparent and streamlined platform, The Supply Register occupies a unique position that delivers total recruitment solutions by working in partnership with schools to transform existing methods and build lasting relationships.
Since, 2016 The Supply Register has saved over £1m on supply cover spend for its partnership schools, academies and multi-academy trust.
For more than 25 years, leading Birmingham-based venture capital firm Midven has been supporting Midlands SMEs, investing more than £60m into the region and raising £200m co-investment into their portfolio. Midven’s ‘more than money’ approach helps to build strong and successful companies and support businesses every step of the way. Midven continues to extend its reach to invest in the Midland’s most ambitious entrepreneurs through its recent appointment to manage the £35 million equity portion of the Midlands Engine Investment Fund (MEIF). For more information about Midven, please visit www.midven.co.uk.