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Oak

Bio

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.

Deal size

£950,000

Region

Newcastle

Funding need

Growth Stage

Sector

Technology

Oak is an amazing product with tremendous potential. It enables organisations to engage their employees including deskless workers and provides a range of internal communications tools that integrate seamlessly with office applications. We are thankful for the great funding partners we have in Maven, NorthStar Ventures and Finance Durham and look forward to working with them as Oak scales.

Will Murray
CEO of Oak

Growth Journey

Created in 2016 Oak is aimed at enterprise and medium sized businesses, it organises departments, news, teams, projects and internal communication through its mobile app and SaaS platform. This makes it perfect for large organisations that may have multiple locations and deskless workers. Users of Oak see employee engagement levels of 90% or higher when adopting the company’s deployment methodology.

Oak received funding in 2018 from Maven, the Finance Durham Fund and other investors to strengthen its sales and marketing across the UK and US, expand the roll-out of its innovative cloud-based intranet software solution, and double staff to more than 100 by 2022.

The most recent funding in 2020, by the North East Development Capital Fund, Finance Durham Fund and others coincides with several other exciting developments including, a restructure of the company’s leadership team led by the new CEO, Will Murray and the appointment of a new non-executive chairman, Mark Quartermaine which will enable the business to expand adoption across the UK. The company also moved to a new Newcastle City Centre office at Generator Studios.

Since its launch, Oak has been adopted by a range of industry leading organisations, such as Aldi, Halfords, ITV, REISS and River Island. Oak is a secure, cloud-based, digital workplace for internal communication and employee engagement. Oak’s Software as a Service (SaaS) solution is used by hundreds of thousands of people every day across multiple sectors.

 

Could the North East Development Capital Fund help support your growth journey?

If you’re running a North East business that’s looking to grow, we’d love to hear from you. Feel free to give us a call to find out more about our flexible funding solutions: 0191 731 8590

 

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