Former CEO Tom Pickersgill breaks his silence on the collapse of Orka Technology Group, a Manchester-based hiring platform. After a disappointing growth trajectory and failing to materialize key partnerships, Orka, backed by Praetura Ventures, fell into administration. Contrary to reports of raising £29m, the actual equity raised was £7m, with the majority being a debt facility. Despite peaking with a £3m Series A in 2021/22, the ARR approaching £1m and a turnover of £8m, Orka struggled to meet investor expectations for growth, leading the board to make the hard decision to go into administration in March 2024. Pickersgill purchased one part of the business, Orka Check, rebranding it as Deploi, and embarking on a new venture focussed on profitability rather than growth. He expressed his lessons learned, the mental challenges faced, and his commitment to operate more prudently with his new startup.

Human Resources & Employment Services, Software & Technology,United Kingdom

‘We bit off more than we could chew’ – ex-Orka CEO