Places for People has invested in Impact Reporting, a Manchester-based technology start-up created by the founders of Reason Digital.
The housing provider has been working with the software provider for the past two years on its social impact reporting tools. The company is already valued at £2 million after its first year of trading and plans to double its turnover this year, rising to £10 million over the next five years.
Impact has measured over £76m-worth of social value for Places for People over the past 12 months, and its customers include Regenda, Manchester Airport Group, Network Rail, DWF, Breast Cancer Care, The University of Manchester and The British Library.
Marcus Hulme, social value director, Places for People, said, “We are investing in Impact because we believe social value is an increasing area of focus for all kinds of businesses with a CSR agenda. Impact Reporting’s social value tool is innovative, constantly developing and will raise the bar in social-value monitoring across all types of sectors.
“Impact Reporting has fantastic potential – we’ve seen it grow over the past two years and take on national clients who are leaders in their fields. We’re proud to support a new technology company whose ethos reflects our focus on delivering positive social value and helping people to achieve their potential.”
Chris Farrell, managing director, Impact Reporting, said, “Having the support of Places for People, has galvanised our belief that our business will expand further as we grow our client base. This investment will allow us to enhance the functionality of our social value tool, plan our development and increase future recruitment. Social value is increasingly becoming a buzzword for companies, and we offer a bespoke way to quantify all aspects of community, social, environmental and employee engagement.”