OneUp Sales raises GBP £1.5m to expand in global markets

OneUp Sales has announced it has raised GBP £1.5 million from the Midlands Engine Investment Fund (MEIF) and Mercia Ventures to aid its expansion into international markets.

The funding secured by the company, based in Tamworth, will be used to grow its customer base in the United States and further develop its sales management product.

Currently employing 40 staff, OneUp Sales has reported an annual recurring revenue (ARR) of GBP £2.7 million. The platform, used by over 350 customers, helps managers track data to improve performance, incentivise sales teams, and celebrate successes. Its clients include Hitachi Vantara, Xcede, and Premier Group.

The company was founded in 2016 by former game developers Derry Holt and James Heath. Their platform uniquely enables sales teams to form leagues and engage in automated online competitions to drive performance.

This latest round of funding brings the total investment in OneUp Sales to over GBP £5 million, following three previous rounds from MEIF and Mercia Ventures.

Derry Holt, Chief Executive Officer of OneUp Sales, stated, "We started OneUp Sales because we saw the potential to use gaming technology to make sales more motivational - to empower and inspire sales teams instead of filling them with dread. The company has come a long way in the past nine years and we now have customers worldwide. Having achieved initial success in the US, the next step is to focus on boosting sales in this huge potential market. The funding will help us to do that."

David Baker, Investment Manager at Mercia, commented, "OneUp Sales has been a pioneer in the field of sales management systems. Mercia supported it from the start and it has been rewarding to watch its continued growth and development. We look forward to working with Derry, James and the team as they continue to scale the business."

Debbie Sorby, Senior Investment Manager at British Business Bank, said, "We are pleased that our investment in OneUp Sales over the years has helped the company grow and expand in this scale. The Midlands Engine Investment Fund prides itself in helping businesses in the region get access to the right type of finance and we hope to help more Midlands businesses succeed in the future."

The Midlands Engine Investment Fund, financially supported by the European Union through the European Regional Development Fund (ERDF), aims to support local businesses by providing access to the finance necessary for growth. The Fund incorporates support from the European Investment Bank and operates as part of the European Structural and Investment Funds Growth Programme 2014-2020.