Acuity Law advises Bright Network on £3.5 million investment
Key Contact: Christian Farrow
Author: Elena Visser
Acuity Law is pleased to have advised Bright Network (UK) Limited (Bright Network) on a £3.5 million investment led by Maven Capital Partners and Seneca Partners Limited.
Bright Network is a media technology platform which enables blue-chip employers to reach, identify and recruit high quality graduates and young professionals. Bright Network aims to equip the next graduate generation with the skills, connections and training required to build careers in their chosen fields.
Diversity is critical to Bright Network’s mission in helping the brightest get ahead in their careers. 75% of the Bright Network’s membership are state-educated, 58% female, 40% BAME (Black, Asian, Minority, Ethnic) and 43% are the first generation to go to university.
Maven originally invested in Bright Network in July 2018, alongside existing and angel investors and the company has since generated 50% year on year revenue growth.
During these challenging times with the uncertainty caused by COVID-19, Acuity Law is pleased to have assisted Bright Network to help it move forward in the graduate recruitment marketplace.
James Uffindell, Founder and CEO of Bright Network, said:
“We are delighted to continue to grow our relationship with Maven Capital Partners who have been instrumental to our growth and strategy over the past two years. In these unprecedented and uncertain times, more so than ever, graduates from all backgrounds need all the help they can get to understand what the opportunities are, and how best to find them. With 80% of this year’s graduates worried that COVID-19 will affect their university grades and 83% feeling under more pressure due to uncertainty caused by COVID-19, it’s incumbent on universities, employers and services like ours to step up our support. It’s paramount that we ensure graduates get into the right careers and that firms hire the right talent – this will help to rebuild an economy that has been severely impacted by the coronavirus pandemic.”
Bright Network is now set up for its next phase of growth by investing in smart matching technology capabilities, as well as enhancing the sales and marketing resource to increase brand awareness and working to bring more firms and early years talent to the platform.
The investment should put Bright Network in a strong position to sustain its growth and weather the current economic challenges.
James Uffindell also added that:
“The Acuity team were proactive and provided an excellent service throughout. In what were unprecedented circumstances, Christian and his team were always available and worked hard to bring the deal to a swift conclusion. We very much look forward to working with them again.”