Oak was created by intranet software specialist, Orchidsoft, a pioneer in developing and selling intranet solutions for over 20 years. As the market has shifted towards cloud-based solutions, the business invested heavily in developing its own globally scalable cloud-based platform called Oak. Oak is an ‘out of the box’ intranet platform, which has no set-up or configuration costs, makes it suitable for businesses of all sizes and the software is now being used by hundreds of thousands of people every day across a multitude of sectors.
Our amazing team have created something really special with Oak and it’s been an incredible year for us, with record sales and growth and now with this transformative investment, which will allow us to scale our business globally. We’re thankful for the great funding partners we have in Maven and look forward to working together with them to make a noise from the North East that’s heard around the globe.
CEO of Oak
Oak has been adopted by a range of high profile, blue-chip customers, who join an impressive list of house-hold brands the company already works with such as Aldi, Comic Relief, Halfords, Pizza Express, ITV, Virgin Money and Newcastle Building Society.
Intranets are increasingly becoming a vital component in the operations of any organisation. They provide a seamless portal where employees can communicate, collaborate and perform a range of tasks including accessing company documents, managing their expenses, or simply putting in holiday requests. Oak has been designed with user experience, engagement and simplicity at its core. The software’s ease-of-use enhances communication and collaboration, enables knowledge sharing and streamlines administration tasks for any size of organisation. The solution is extremely intuitive, and Oak can be implemented, populated and maintained without the need for any consultancy, technical or design resources.
The cloud services market, and SaaS in particular, has grown rapidly in recent years and a paradigm shift in the market is taking place, with the delivery of software moving away from traditional on-premises software to cloud based solutions. In 2017 27.8% of global enterprise applications were delivered as SaaS which is forecast to increase significantly to 86% by 2022. Intranets are increasingly becoming more essential and deeply embedded in the operations of an organisation. The UK intranet market is estimated to be worth £630m annually, with the wider European market 5x larger and the US market 6x larger.
The company will use the funding to strengthen sales and marketing, expand the roll-out of its innovative cloud-based intranet software solution, Oak, and double staff to more than 100.
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