Mo scales up with £2.2m NVM investment .
4 February 2019
NVM Private Equity (NVM) has committed £2.2 million of growth capital into London-based recognition, employee reward, and ideas platform, Mo. Formerly known as Thanksbox, Mo provides proprietary technology to help organisations achieve success by strengthening relationships, sharing ideas and building stronger cultures and giving employees greater meaning at work. NVM’s investment will be used to accelerate scale up of the business, expand the team and to deliver further technical progression in the platform.
Mo connected with NVM at a London showcase event in 2018 hosted by Creative England which offered an opportunity for early-stage companies to pitch to potential investors. NVM were immediately impressed with co-founder and CEO Luke Fisher, and there has been an alignment of interest from day one. Luke, who previously worked at WorldPay, has made incredible progress and in just three years the business developed a strong product and successfully implemented it into several large and well-known organisations such as Nuffield Health, William Hill, the NHS and the O2 Arena.
Luke is part of a young and passionate founding team, with a great balance of commercial and technical experience. Jason Warren, who has taken a seat on the board for NVM, says: “This is a really exciting deal for NVM. We were impressed from the outset by the clear vision Luke has for the business and the traction he has achieved over the last few years; it’s exactly the type of early-stage business we look to support. Organisations are placing more and more focus on employee engagement and we believe there is great potential for Mo to work alongside them to improve their culture.”
Luke Fisher, CEO of Mo, said: “We’re absolutely delighted to have partnered with investors that believe in our story and our ambition to create a better future of work.”
NOTES TO EDITORS
For further information please contact:
- Natalie Dickinson (NVM: PR & Marketing) – 0118 951 7021 email@example.com
- Jason Warren (NVM: Investment Associate)– 0118 951 7015 firstname.lastname@example.org
Download photos of: Mo – www.nvm.co.uk/PRphotos
NVM was provided with:
- Legal advice by Shoosmiths (Sanjeev Sharma and Adam Leszczynski)
Sanjeev Sharma said: “We are delighted to have advised NVM on this investment into an exciting product to make workplaces better through employee recognition and appreciation.”
- Commercial due diligence by Fairgrove Partners
- Management due diligence by The Continuum
- Financial due diligence by SGB Consulting
- IT due diligence by Intechnica
- VCT compliance by Philip Hare & Associates
NVM Private Equity is independently owned with over 30 years’ experience of investing in unquoted UK businesses. NVM is a generalist investor, managing more than £400 million of funds, and is differentiated by having executives living and working in regional business communities throughout the UK. NVM seeks investment opportunities of between £2 million and £15 million in UK businesses which have the right mix of growth potential and market vision. They may be looking to grow organically, acquire another business or secure a management buy-out. www.nvm.co.uk