Maven completes merger of Hive HR with WorkBuzz

Maven has merged its portfolio company Hive HR into WorkBuzz, the employee engagement and people analytics platform, through a share-for-share exchange. Maven will become a shareholder in WorkBuzz as part of the transaction.

Hive has developed a cloud-based employee engagement platform that helps organisations capture employee feedback in real time and turn it into practical insight to support communication, engagement and organisational performance.

Since Maven’s initial investment in 2019, Hive has trebled its revenues, continued to develop its platform and built a strong position in the employee engagement market. Maven has worked closely with the management team and board throughout, providing strategic and operational support as the business scaled.

As Hive prepared for its next phase, Maven helped identify WorkBuzz as the right partner for the future. The two businesses are highly complementary, and combining Hive’s technology, expertise and customer relationships with WorkBuzz’s scale and capabilities creates an enlarged group that is well placed to serve customers in a fast-evolving market.

Through the share-for-share exchange, Maven will hold a stake in WorkBuzz going forward, reflecting its confidence in the combined business. Maven looks forward to supporting WorkBuzz as it builds on this platform and to sharing in its future success.

“Since our initial investment in 2019, Hive has trebled revenues and established a strong position in the employee engagement market, WorkBuzz is the right partner for its next chapter. We are delighted to become a shareholder in WorkBuzz and look forward to the success of the enlarged group.”

David Nixon, Investment Director at Maven

“Maven has been an active and constructive partner throughout Hive’s development. Their support has gone well beyond capital, providing strategic input as the business grew and helping us find the right partner for its next phase. Joining forces with WorkBuzz creates exciting new opportunities for our customers, our people and the wider business.”

Matthew Jenkins, Chairman at Hive HR