The Background
MIRACL is a London-based mathematics company that applies elliptic curve cryptography to ensure trusted business transactions between people, applications, and things.
The Challenge
In April 2011, we were a newly established start-up, based in London, with a core executive team. With an early-stage investment secured, our needs were to find a suitable pool of highly skilled software developers at a reasonable cost, that we were able to hire fairly quickly and with a minimal overhead of time and effort from our Head Office.
We were then introduced to Pwrteams through a personal referral within our network, and based on this and our direct conversations with them, we had the confidence to go ahead and build a team.
Being an early-stage company based in London, it was a challenge to get good software developers at a sensible cost. Pwrteams provided a great solution and found us the people we needed. We were able to quickly establish a team in Sofia and this continued to grow in line with the business. The flexibility we needed as a fast-moving start-up with changes commonplace was provided by Pwrteams with minimum impact to us, and something we learned along the way was the benefit of hiring personalities that matched the character of us as a business, not just the technical skillsets of individuals.
Strategic Partnership
The Pwrteams co-managed model is helping us a lot, enabling us to focus on product delivery while they co-manage our team taking care of the day-to-day HR, facilities, and admin for our team members. We have continued to expand our team with Pwrteams over the years, more recently including not just developers but also UI/UX designers, technical writers, and QA resources.
Nearly 4 years into our partnership with Pwrteams, we have a stable team of over 30 consultants with expertise in multiple disciplines, and we continue to grow our headcount. This is reflected in our business as we have successfully secured a further £6m of investment in 2014 with the Sofia team being a vital part of Miracl.
The Results
Since April 2011, Miracl has grown its team to over 30 members and is still growing. This success is due in part to the close collaboration we have established between Miracl and Questers staff, commented Brian. Collaborating with Pwrteams has proved very successful, in particular giving us access to a motivated and cost-effective talent pool, especially important for us as an early-stage business based in London where the market for developers is very competitive, said Brian. The main areas of success being:
- Recruitment
- Motivation and retention
- Productivity and performance
- Cost savings
- Access to a new talent pool
