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). The business predicts that transactions via its platform (based around people looking for temporary work) will be in excess of £1 million 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 located in Spinningfields, Manchester.
Tom Pickersgill, founder and CEO of Broadstone, told Risk Xtra: “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. Our future plans are even more ambitious as we look to undertake a Series A fundraiser later in the year to accelerate our growth strategy.”
Pickersgill added: “Moving to The Garages in the XYZ building will ensure that we’re 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 that we’re able to double or even triple headcount without any major disruption to our office space.”
Challenge to the market
Launched in January 2018 by Pickersgill and co-founders James Doyle and Nick Groves, Broadstone is successfully challenging the “archaic” temporary staffing market within the regulated services industry, with a current and keen focus on the security business sector.
In essence, Broadstone is a marketplace for companies to post flexible opportunities for on-demand workers in the security industry.
Pickersgill stated: “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. Tech giants like Uber and Deliveroo are reaping the rewards of engaging with these labour pools. Our Labour-as-a-Service approach is democratising recruitment, providing companies with much needed instant access to a pool of verified and vetted workers and affording candidates access to fair and flexible temporary work. All of this results in a fast and highly streamlined process.”
Broadstone launched its InstantPay feature late last year. It enables workers to instantly draw down on their pay. The business has 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.