We advised MSIF’s Merseyside Loan and Equity Fund on their recent £350,000 equity investment into high-growth digital recruitment platform Supplywell, part of a funding round worth up to £500,000.
Founded in 2018 by ex- teacher Michael Heverin, digital marketing expert Dan Price and recruitment specialist Raina Heverin, the company has successfully progressed out of prototype stage and is now gearing for national expansion – ready to support schools and teachers across the UK.
Based in Liverpool City Centre, SupplyWell serves as a digital marketplace platform to bring together supply teachers and schools looking to fulfil temporary teaching roles all within an automated data platform using algorithmic data engines. SupplyWell also helps to reduce absence and improves retention through staff wellbeing modules.
SupplyWell can now look to expand its offering by broadening its workforce and continuing to roll out its AI-driven deep job platform across the UK and to international territories.
The investment was led by David Walters at Alliance Fund Managers (AFM), MSIF’s fund manager subsidiary. Legal support was provided to AFM by Daniel Hayhurst, Legal Director in our Corporate team.
David Walters, AFM Digital Investment Manager, said: "We are excited to be supporting the SupplyWell team on the next stage of their EdTech growth journey from seed to scaleup.
Teachers, schools and students will benefit hugely from the SupplyWell deep job platforms which automates the process for putting the right supply teacher in touch with the right school at the right time. We could see clearly though our due diligence the major operational teacher absenteeism issues that exist every school day and how the SupplyWell platform can make a difference to the quality of supply teaching for all."
Marc d’Abbadie, AFM Head of Equity, commented: “Our investment into SupplyWell further demonstrates our support of Liverpool City Region’s exciting early-stage tech community. The management team have done a remarkable job in a short period of time to build out their Software-as-a-Service platform and grow their teacher and school user base across the Liverpool City Region. The opportunity to expand is significant and we look forward to supporting the team on the journey ahead.”
The team advising AFM/MSIF was led by Legal Director Daniel Hayhurst, a specialist in venture capital investments and member of the firm’s Tech Sector Group. Daniel commented: “We have seen strong activity across the EdTech space over the last 12 months and SupplyWell is an excellent example of how innovative technology is being applied to solve operational issues across the education sector. It was a pleasure to support AFM with their investment into SupplyWell and we look forward to following their continued success as SupplyWell scale the deployment of their platform.”
