OneUp Sales – whose platform helps businesses to manage and motivate sales teams – has raised £2.25m from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund (MEIF), and Mercia’s EIS funds.
The Staffordshire-based team will use the funding to further enhance its award-winning platform that drives productivity in sales teams worldwide. It follows a successful 2022 during which the business more than doubled staff numbers and increased annual revenue by over 115%.
OneUp Sales enhances reporting, improves the accountability of salespeople, fosters friendly competition with sales teams and helps celebrate success. It also integrates with almost 30 different types of customer relationship management (CRM) systems.
The platform is used by over 250 companies in the UK, including prominent names in the recruitment industry such as Recruitment Entrepreneur, Xcede, Investigo, and Premier Group.
The investment will enable the company to enhance its existing product and launch a new commission management solution later this year which will simplify the process of calculating and managing sales commission and help to further motivate salespeople.
OneUp Sales was founded in 2016 by two former games developers, Derry Holt and James Heath. The latest investment follows two earlier funding rounds from Mercia and MEIF totalling £750,000. It currently employs 36 staff and plans to create a number of new jobs in the year ahead.
Derry Holt, CEO of OneUp Sales, said: “We are excited about this new chapter at OneUp Sales. Our growth and this successful fundraising round validate the impact we’re having on hundreds of sales teams around the world. With the support of our investors, we are well prepared to pursue our vision and deliver even greater functionality to our clients; our upcoming commission management tool is set to be a gamechanger for finance and sales teams everywhere.”
David Baker, Investment Manager at Mercia, said: “Although many sales teams still rely on spreadsheets and whiteboards, there is a growing market for sales performance platforms. OneUp Sales has been a pioneer in the field, and differentiates itself through its easy to use system that engages staff effectively and integrates with existing sales systems. The company has grown rapidly in recent years. The latest funding will enable Derry and James and the team to take it to the next level.”
Keira Shepperson, Director of Regional Funds at the British Business Bank, said: “The MEIF supports the expansion and development of Midlands based SMEs that are innovative and have growth potential. This proof-of-concept funding for OneUp Sales will not only help the platform to enhance its existing product but also to launch a new solution as part of its business growth which will bring a positive impact for the wider region through the creation of new job roles.”
Alun Rogers, Chair of the Stoke-on-Trent and Staffordshire Local Enterprise Partnership (LEP), said: “We are pleased to see OneUp Sales, a local company delivering value to businesses worldwide, secure funding through the MEIF to further enhance the platform and create new employment opportunities in our region.
OneUp Sales exemplifies the entrepreneurial spirit and technological expertise that we strive to foster in Stoke-on-Trent and Staffordshire, and we look forward to witnessing their continued success and growth.”
The Midlands Engine Investment Fund is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.