Manchester-based security tech scale-up, Broadstone, is celebrating unprecedented growth as it reports a 300% increase in revenue in the past five months and a 700% increase in its user community in the past six months (up from 2,500 users in October 2018 to 20,000 users this month). They predict that transactions via their platform (people looking for temporary work) will be in excess of £1m per month by 2020.
As a result, the high growth firm is looking to expand its headcount by 50% over the next three months, as it enters a period of major fundraising and active investment. To support its rapid growth and enable further scalability, Broadstone is also moving to new, state-of-the-art premises at The Garages in Allied London’s XYZ building in Spinningfields, Manchester.
Tom Pickersgill, founder and CEO, said: “Since we launched just over 12 months ago, we’ve experienced incredible success, from securing contracts with some of the UK’s major corporations to growing month-on-month in every aspect of our business. And our future plans are even more ambitious, as we look to undertake a Series A fundraise later in the year to accelerate our growth strategy both here in the UK.
“Moving to The Garages in the XYZ building will ensure we are well positioned to continue to grow at pace, while providing a high spec environment for our valued team. Being part of the Allied London portfolio provides the flexibility we need as a high growth scale up, and means we are able to double or even triple headcount without any major disruption to our office space.”
Launched in January 2018 by founders Tom Pickersgill, James Doyle and Nick Groves, Broadstone is successfully challenging the archaic temporary staffing market within the regulated services industry, currently focused on the security sector.
Tom says “The worker landscape has changed dramatically over the past decade. More people are looking for work that fits around their life, yet traditional recruiters and bricks and mortar staffing agencies have not adapted to this and tech giants like Uber and Deliveroo are reaping the rewards of engaging with these labour pools as a result.
“Our unique labour-as-a-service approach is democratising recruitment; providing companies with much needed instant access to a pool of verified and vetted workers, and providing candidates with access to fair and flexible temporary work, resulting in a fast and highly streamlined process.”
Broadstone launched their InstantPay feature late last year – which enables workers to instantly draw down on their pay. They have seen a 55% increase in uptake in the past three months, reinforcing the firm’s belief that handing increased control and flexibility to the employee is the future of the workforce.
In the next 12 months, Broadstone predicts its transactions to be in excess of £1m per month with a vast user community of 40,000 people looking for temporary work via their platform.