OneUp: Propelling with a £1.5m Funding Boost for U.S. Expansion
Deal News | Feb 25, 2025 | Mercia Fund Management (Mercia Ventures)
OneUp Sales, a Tamworth-based platform utilizing gaming technology to enhance sales team management and motivation, has secured an additional £1.5m investment from the Midlands Engine Investment Fund (MEIF) and Mercia Ventures. The funding aims to bolster OneUp's expansion into the US market and enhance its product offerings. Founded in 2016 by former game developers Derry Holt and James Heath, OneUp Sales presently boasts annual recurring revenues of £2.7m and serves over 350 clients, including notable names like Hitachi Vantara. This latest investment round brings the total funding to over £5m, facilitating their mission to empower and inspire sales teams worldwide. The MEIF, backed by the European Regional Development Fund and European Investment Bank, emphasizes supporting regional businesses like OneUp to achieve scalable growth.
Sectors
- Sales Technology
- Venture Capital
- Information Technology
Geography
- United Kingdom – OneUp Sales is based in Tamworth, UK, and has received support from UK-based investment sources like the Midlands Engine Investment Fund.
- United States – The latest funding will facilitate OneUp Sales' expansion efforts in the US market, where they already have a customer base.
- European Union – The European Regional Development Fund, part of the EU, financially backs the Midlands Engine Investment Fund, aiding OneUp Sales' growth.
Industry
- Sales Technology – The industry involves innovative technology platforms that enhance sales processes and team performance using tools like data analytics and gamification.
- Venture Capital – This sector involves investment firms providing capital to innovative startups and growth-stage companies such as OneUp Sales, helping them to expand.
- Information Technology – OneUp Sales operates within the broader IT sector, utilizing gaming technology to develop their sales motivation and management platform.
Financials
- £1.5m – The amount raised by OneUp Sales for their expansion into the US and product development.
- £2.7m – Annual recurring revenue (ARR) achieved by OneUp Sales.
- £5m – Total funding raised by OneUp Sales to date including the latest round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| OneUp Sales | Target Company | Company | A sales platform utilizing gaming technology to enhance and motivate sales teams, founded by Derry Holt and James Heath. |
| Midlands Engine Investment Fund (MEIF) | Investor | Company | An investment fund supported by the EU and European Investment Bank, focused on growing regional businesses in the Midlands. |
| Mercia Ventures | Investor | Company | A venture capital firm that supports startups and SMEs, aiding them through investment and development. |
| Derry Holt | CEO and Founder of OneUp Sales | Person | Co-founder of OneUp Sales, leveraging gaming technology to transform sales management. |
| David Baker | Investment Manager at Mercia | Person | Oversees investments for Mercia Ventures, supporting OneUp Sales' expansion and development. |
| Debbie Sorby | Senior Investment Manager at the British Business Bank | Person | Manages investments through the British Business Bank to bolster regional businesses like OneUp Sales. |
| Hitachi Vantara | Customer | Company | A data storage specialist and notable customer of OneUp Sales. |