Hike SEO, a Leicestershire, England-based startup that provides DIY SEO software, has raised £675,000 in funding.
The round was led by DSW Ventures, with co-investment from the incumbent investor, Jenson Funding Partners.
Hike's software is also aimed at digital agencies, allowing them to deliver SEO services as an additional value-add service to their clients.
The funds will be used to further invest in developing the platform and to make key commercial and operational hires.
Andy Allen, CEO of Hike, said: "We're thrilled to have the support of DSW Ventures and Jenson Funding Partners in our mission to empower small businesses with the tools and knowledge they need to succeed online. With this investment, we'll be able to develop the product and grow our team to ensure that even more small businesses can benefit from the Hike platform. This funding round marks an exciting new chapter for us at Hike and is a big step forward in achieving our goals for the business."
Hike has also strengthened its board with the recruitment of two seasoned operators. Jim Hodgkins has joined the company as Chair – Jim is the former Managing Director of ContentCal which was sold to Adobe at the end of 2021. The founders have also secured Deborah Jones, former Finance Director of MLS, a private equity-backed software business that exited to Capita, as CFO.
Company: theWebShed LTD
Funding Month: January 2023
Lead Investors: DSW Ventures
Additional Investors: Jenson Funding Partners
Company Website: https://hikeseo.co/
Software Category: SEO software
About the Company: Founded in 2017 by CEO Andrew Allen and CTO Kieran Headley, Hike is a DIY SEO software for small businesses. Hike's DIY search engine optimization (SEO) platform is designed to help small businesses improve their visibility on Google in a cost-efficient but highly effective way. The product tells the user what they need to know to build a bespoke SEO strategy and then guides them through the execution of that strategy. Hike's customers can optimize their online presence without the significant cost of engaging a specialist consultant. Since then, Hike has grown rapidly and now has over 1,000 customers and annual revenues of over £1 million.
Source: Pauline Rawsterne, PR Agent-Turquoise PR