OnHand Boosted by £750,000 Investment from Northstar Ventures
Deal News | Dec 23, 2024 | Northstar Ventures
OnHand, a social impact platform, has secured a £750,000 investment led by Northstar Ventures, with contributions from the North East Innovation Fund, Northstar's EIS Growth Fund, and 24 Haymarket. This funding will aid in the enhancement of OnHand’s platform and its expansion into the enterprise market. OnHand enables businesses to fulfill corporate social responsibility (CSR) by connecting employees with volunteering opportunities. The platform has gained recognition for its ability to foster a culture of purpose and engagement among employees while emphasizing sustainability and social impact. Since Northstar's initial investment in 2021, OnHand has experienced notable growth, accompanying prestigious clients like Baringa and Rightmove, and ranks 22nd in Deloitte's Fast50 for 2024. Key leaders including CEO Sanjay Lobo and CFO Will Turner drive OnHand's growth ambitions. This recent investment will also support technical upgrades and gamification enhancements. Northstar Ventures, as a prominent early-stage investor in the North East, continues to back strong teams with innovative ideas. OnHand’s CEO, Lobo, praised the ongoing support from Northstar and 24 Haymarket, setting sights on wider enterprise engagement. The article also highlights Northstar Ventures' longstanding regional impact, supporting startups and high-impact social enterprises.
Sectors
- Venture Capital
- Corporate Social Responsibility (CSR)
- Technology
Geography
- United Kingdom – Northstar Ventures and OnHand are based in the UK, which is relevant to the geographic context of the article.
- North East England – Northstar Ventures operates primarily within the North East of England.
Industry
- Venture Capital – The article highlights Northstar Ventures, a VC firm, and its investment activities.
- Corporate Social Responsibility (CSR) – OnHand operates in CSR by providing businesses with a platform to enhance their social impact efforts.
- Technology – OnHand is a tech-based platform that connects employees with volunteering opportunities using innovative matching technology.
Financials
- £750,000 – The investment amount secured by OnHand in the latest funding round.
- £325,000 – Investment by the North East Innovation Fund as part of the funding round.
- £175,000 – Investment from Northstar's EIS Growth Fund.
- Over £5 million – Total investment in OnHand to date.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Northstar Ventures | Lead Investor | Company | A venture capital firm based in the North East of England, investing in early-stage businesses. |
| OnHand | Target Company | Company | A social impact platform enabling businesses to enhance corporate responsibility through employee engagement. |
| 24 Haymarket | Co-Investor | Company | An investment company supporting the OnHand platform in its scaling efforts. |
| North East Innovation Fund | Co-Investor | Company | Supports innovative businesses in the North East, funded by the European Regional Development Fund. |
| Sanjay Lobo | CEO | Person | CEO of OnHand with significant experience in high-growth technology companies. |
| Will Turner | CFO | Person | CFO of OnHand with expertise in scaling SaaS businesses. |
| Ben Ward Cochrane | CRO | Person | CRO of OnHand, responsible for driving enterprise sales. |