MBA & Company has received 800,000 pounds in funding from previous backers MMC Ventures and Piton Capital. Based in the UK, MBA & Company is a marketplace that provides high-quality strategy consultants for short-term projects.
19 May 2014, London: MBA & Company, the global marketplace that provides elite strategy consultants for short-term projects, has raised £800k from existing investors MMC Ventures and Piton Capital, taking the company’s total funding to over £2m.
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 $30bn 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 £30m compared to using traditional consultancies.
Over the last 12 months, the curated service has seen average project size increase 50% to £18,000 whilst client satisfaction increase from 98% to 99%, and over 80% of new clients use the platform more than once. Completed projects have ranged from £100 to £600k.
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, said, “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 also commented: “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.”
MBA & Company In Numbers
– £20m in projects posted
– 20,000+ Consultants in 130 countries
– Average project size of £18,000
– Completed projects in over 50 countries, covering 40 industries
– Saved clients £30m, compared to using traditional management consultancies.
– Trusted by major corporates and investment houses, including: Phoenix Equity, HgCapital, General Motors, Pizza Hut, Sharp
About MBA & Company
MBA & Company was founded in 2009. It was developed to help fast-growing businesses access a highly skilled and flexible workforce for cost-effective project work.
The business has been recognised amongst the highest potential in Europe being named as a UK Start Up Award Winner, a hot 100 start up for several years, A Red Herring Europe Top 100 finalist, A Real Business Future 50 Top 10 Judges Pick and most recently a New York City Venture Fellow as selected by Mayor Bloomberg, Fred Wilson and Sir Martin Sorrell.
The founders, Daniel Callaghan and Adam Riccoboni, first met at school aged eleven and, as well as building MBA & Company together, have also co-authored several business books.
About MMC Ventures
Founded in 2000, MMC Ventures is an active investor and award-winning venture fund manager, focused on technology-enabled sectors where the UK is a world leader -particularly financial and business services, business software, digital media and e-commerce. With over £110 million under management, and investing £15 million+ annually, MMC was ranked among the top most active early-stage UK investors in both 2012 and 2013.
MMC’s existing portfolio includes AlexandAlexa, Base79, Interactive Investor, Knowledgemill, LoveHomeSwap, Reevoo, NewVoiceMedia, Tyres on the Drive, Masabi, TotalMobile, Safeguard, iJento, Small World, Somo and Boticca. www.mmcventures.com