NorthEdge has completed an investment in Newcastle-based Oak Engage, a software platform specialising in employee engagement and intranet solutions.
Oak Engage provides a mobile-first platform that facilitates effective communication and engagement across dispersed employee groups, especially those in deskless or frontline roles. Its clients include NatWest Group, ScS, Burger King UK, Five Guys, Aldi, and Halfords.
The platform operates as a central hub, allowing employees to access company news and important documents easily, wherever they are located. Oak Engage has also invested in artificial intelligence to tailor communications for individual users, delivering targeted messages directly to relevant staff.
Growth plans
NorthEdge's investment will be used to support Oak Engage's ongoing growth strategy. This will include expansion of the commercial team, refinement of the company's go-to-market approach, and improvements to systems and data-driven decision making, as well as continued product development.
The investment was led by Jon Pickering, Partner; Dan Matkin, Director; and Simone Masterson, Investment Manager at NorthEdge. The transaction builds on NorthEdge's track record in the business-to-business software market, marking its 19th technology investment and the ninth from its third fund. Previous software investments from Fund III include Altia, PebblePad, and Latus, with Oak Engage representing NorthEdge's second entry into the human capital management software sector after investing in Cezanne HR in 2023.
Leadership and team
Oak Engage's executive team bring collective experience in scaling software-as-a-service businesses. Will Murray, Chief Executive Officer, has guided Oak Engage's growth since 2019, while Jake Armstrong, Chief Financial Officer, joined in 2021 after a career as a CFO for multiple technology firms.
The wider Oak Engage senior team includes Rachel Davison (Chief People Officer), David Ferguson (Chief Technology Officer), Mark Harnor (Vice President of Sales), and Michael Harbottle (Vice President of Customer Success).
Backing ambition
Dan Matkin, Director at NorthEdge, said: "We are delighted to be backing Will and the highly ambitious team at Oak Engage to continue the growth of the business following their success over the last few years. The business operates in a fast-growth market that continues to evolve at pace, Oak Engage's well-invested platform means they are well-placed to capitalise on the increasing demand for employee engagement tools. Over the last five years, NorthEdge has been the most active B2B software investor in the regional market. This has enabled us to establish a strong track record of supporting and scaling B2B SaaS businesses based in the UK regions; and we look forward to continuing this success with Oak Engage."
Will Murray, Chief Executive Officer of Oak Engage, welcomed NorthEdge's investment as a reflection of the company's progress and future direction.
Will Murray, CEO of Oak Engage, added: "Oak Engage is an ambitious and fast-growing business and this marks a significant milestone in our journey. It's a powerful endorsement of our vision for the future and a testament to the dedication and hard work of the team. I'm proud to lead the company at such a pivotal time and to have the backing of NorthEdge as we cement our position as leaders in the industry. We remain firmly committed to investing in our growth, our people, and our product to ensure we continue delivering exceptional experiences for our customers and their employees."
Advisory roles
NorthEdge's advisers on the transaction included Cavendish (corporate finance), Addleshaw Goddard (legal), Fellwood Advisory (debt advisory), Cortus Advisory (financial and tax due diligence), Crosslake (technology due diligence), Graph and Megabuyte (commercial diligence), and Claritas (tax structuring). Oak Engage was advised by ICON Corporate Finance and Weightmans (legal).
The investment strengthens NorthEdge's position within the technology and business services sector, supporting growing companies in the North and Midlands with capital and operational expertise.
