Human Recognition Systems Ltd.
Have updates for this profile? Please contribute data
= Subscriber Access Only
You are viewing a preview of this profile. Request a Preqin Pro demo for full access to all profiles and underlying data.
With Preqin Pro, you gain an unobstructed view of all alternative asset class activity across institutional investors, fund managers, funds, portfolio companies, deals, exits, and service providers.
Human Recognition Systems Ltd. - overview
Established
2001
Location
Liverpool, -, UK
Primary Industry
Software
About
Human Recognition Systems Ltd. is a UK-based firm specializing in workforce management solutions tailored for the construction industry, focusing on enhancing safety, compliance, and productivity through innovative technology. Founded in 2001, Human Recognition Systems Ltd. , headquartered in Liverpool, UK, specializes in workforce management solutions for the construction sector.
The company was acquired by Infobric, a portfolio company of Summa Equity, in May 2021. Neil Norman founded the company to address workforce challenges within the industry, and Robert Brent is currently serving as the CEO. MSite specializes in providing comprehensive workforce management solutions tailored specifically for the UK construction sector. Their core product offerings include a workforce management platform that facilitates the full worker journey, from pre-site onboarding to on-site operations.
Key functionalities encompass identity verification, access control, attendance tracking, and real-time reporting, all designed to enhance safety, compliance, and productivity across construction projects. The platform integrates both software and hardware, allowing construction teams to streamline their operations and gather actionable insights into workforce demographics, training, safety compliance, and environmental sustainability. MSite caters primarily to general contractors, subcontractors, developers, and regulatory bodies within the UK, enabling them to manage projects efficiently while ensuring that all workers are fully accredited and compliant with industry standards. In the fiscal year 2023, Human Recognition Systems Ltd.
reported a revenue of USD 14. 16 mn and an EBITDA of USD 4. 31 mn, highlighting its effective subscription-based revenue model that partners with clients within the construction industry. Following its acquisition by Infobric in May 2021, which aims to strengthen its product offerings, Human Recognition Systems Ltd.
is strategically planning to expand its market presence. The company is exploring new product developments focused on enhancing its workforce management platform. Specific release dates for these products have yet to be announced. Additionally, they are targeting expansion into new geographic regions to broaden their client base.
The recent acquisition's rationale indicates a commitment to leveraging Infobric's resources to support these growth initiatives.
Current Investors
Infobric AB
Primary Industry
Software
Sub Industries
Hardware, Web Applications, Monitoring & Security Software, HR & Workforce Software
Website
www.msite.com
Verticals
Blockchain, Infrastructure, Mobile Apps
Company Stage
Add-on
Total Amount Raised
Subscriber access only
Human Recognition Systems Ltd. - timeline of key events
Human Recognition Systems Ltd. - financials
| Fiscal Year Ended | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | - | - | 6,217,838 | 7,615,706 | 6,857,948 | 9,195,494 | - | - | - |
| % Revenue Growth (YoY) | - | - | - | 22.5% | (9.9%) | 34.1% | - | - | - |
| EBITDA (USD) | - | - | 1,001,689 | 1,132,432 | 2,011,359 | 2,285,631 | - | - | - |
| Operating Income (USD) | - | - | (203,708) | (120,068) | 630,931 | 938,049 | - | - | - |
| Operating Margin | - | - | (3.3%) | (1.6%) | 9.2% | 10.2% | - | - | - |
| % EBITDA Margin | - | - | 16.1% | 14.9% | 29.3% | 24.9% | - | - | - |
| NET Income (USD) | 681,146 | (6,359) | (51,582) | 69,839 | 676,345 | 942,876 | - | - | - |
| % Net Margin | - | - | (0.8%) | 0.9% | 9.9% | 10.3% | - | - | - |
Human Recognition Systems Ltd. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | Human Recognition Systems Ltd. | - |
Displaying 1 - 1 of 1
Human Recognition Systems Ltd. - employee data
Time to go Pro
Get Preqin Pro for unrestricted access to 600,000+ detailed profiles on fund managers, investors, funds, companies, and other alternative asset players. Unlock exclusive data on future plans, company financials, fundraising history, track records, and more.