Today, Tenzing is proud to announce that we’ll be backing the management team at Gravita.
Based in the heart of London’s tech scene, Gravita provides essential services to over 2,000 fast-growth businesses, international companies and high net worth individuals. The firm helps entrepreneurial businesses achieve their goals through award-winning audit, tax and business support services.
As the regulatory and compliance environment becomes more and more complex, a growing proportion of UK SMEs are outsourcing mission-critical tasks to expert providers. This, paired with an increasing volume of UK SMEs, has resulted in Gravita’s core market growing by over 5% per annum. The firm’s ‘one-stop-shop’, full-service solution to support finance and back-office capabilities, is well-positioned to capture this demand.
Over the past 15 years, Gravita has increasingly differentiated itself from traditional providers through its early adoption of technology to improve its service proposition, including the use of workflow management and client interaction software. This is combined with the use of a flexible resourcing model to provide a more efficient and flexible service.
The business has delivered double-digit growth throughout the COVID-19 pandemic, underpinned by its innovative use of digital lead generation and referrals. Strong NPS scores and a reputation for quality service have resulted in market-leading client retention across its customer base, reflecting the calibre of the firm’s service proposition.
Following the investment, our value creation strategy will focus on supporting Gravita’s above-market growth through investing more heavily in sales and digital marketing, drawing on the experience of Titus Sharpe from our Entrepreneurs Panel, as well as our Domain Experts. Furthermore, Gravita operates in a large, fragmented market and we will help the company to capitalise on this opportunity through providing dedicated Acquisitions Director support.
Christian Hamilton, Co-Founder and Joint Managing Partner of Tenzing, added: “Gravita’s model of leveraging technology to enhance the user experience gives it a unique proposition in the market. Entrepreneurs across the UK rely on the firm’s expertise to deliver mission-critical services that their business needs to operate, which has resulted in double-digit revenue growth. We’re super excited to back Justin and the team and will support them with improving sales effectiveness, enhancing digital marketing and with acquisitions via our Growth Network and by sharing our extensive expertise within the HR and Payroll space.”
Gravita is the second investment within our £400m Fund II, raised in 2020. The company is now one of eleven high-growth businesses within the Tenzing portfolio.
