BGF invests in recruitment software firm Odro
Ryan McCabe: ‘exciting journey’
Video interviewing and engagement software company Odro has received £5.2 million from BGF, the growth capital investor.
BGF has acquired a minority stake in the Glasgow-based business to help fund a global expansion plan that will see it opening offices in Australia and North America, as well as adding a further 20 staff in the next two years.
Odro, which serves the recruitment industry, has more than doubled in size every year since it was set up 2015.
It now employs more than 40 staff and boasts a rapidly expanding client base of household recruitment names including The Adecco Group, Robert Walters and Kelly Services.
Rob Crossland, founder of the Optionis Group, has joined as chairman. He He is an entrepreneur turned adviser who grew revenues in his staffing industry service group from £1 to £350m.
His appointment is the result of an introduction from BGF’s Talent Network, which is the UK’s largest pool of non-executive directors. Dougie Loan has been promoted to chief revenue officer.
Odro CEO, Ryan McCabe, said: “Until now we’ve grown organically, reinvesting profits back into the business to help us scale.
“I’m extremely proud of that journey and what we’ve achieved; and now is the right time for us to take on investment. We’ve built a solid foundation and are primed for international expansion. With BGF’s backing, we can really accelerate that plan.
“Crucial for me was taking on the right partner. I met with upwards of 20 investors but decided to proceed with BGF due to the strong level of alignment with the team there.
“I’m really excited to have BGF’s backing, and to welcome Rob to the board. Considering where we are now, I can only imagine the journey we’re about to go on with their support.”
Euan Baxter, investor at BGF, said: “Odro has built an enviable reputation. They are already recognised as one of the world’s foremost video brands in their industry, despite currently concentrating almost exclusively on the UK market.
“We’ve been really impressed with the tech, which provides agencies with a complete 360 solution to manage the digital hiring process, and with their customer advocacy.
“The journey the company has been on so far is incredible. The growth it has achieved to date is testament to the product, and to the team that’s in place driving the business forward.
“That is what BGF is backing, and we’re delighted to be on board at what’s hopefully going to prove the most exciting time in the company’s history.”