OneUp Sales Secures £1.5m to Fuel US Expansion
Deal News | Feb 25, 2025 | Mercia Fund Management (Mercia Ventures)
OneUp Sales, a pioneering platform using gaming technology to enhance sales team performance, has secured an additional £1.5 million from Midlands Engine Investment Fund (MEIF) and Mercia Ventures. The funding will amplify its presence in the US market where the company has established a promising foundation. Based in Tamworth, OneUp Sales supports over 350 customers, including Hitachi Vantara and top recruitment agencies, generating an annual recurring revenue of £2.7m. Founders Derry Holt and James Heath developed this unique platform in 2016 to drive motivation and engagement within sales teams by leveraging competitive gaming techniques. This recent investment brings the company's total fundraising to over £5m, marking its fourth successful round of funding from Mercia and MEIF. These funds are aligned with OneUp's strategy to enhance its US market penetration. Mercia and the British Business Bank express continued support, underscoring the platform's robust growth trajectory and their commitment to fostering regional business development through initiatives like the Midlands Engine Investment Fund.
Sectors
- Technology
- Venture Capital
- Sales & Marketing
Geography
- United Kingdom – OneUp Sales is based in Tamworth, and its growth and operations impact the UK regionally, supported by UK-based funds.
- United States – The funding will be used to expand OneUp Sales' operations in the US, where it has already gained a substantial foothold.
- European Union – The Midlands Engine Investment Fund supporting OneUp Sales is partly financed by the European Union, highlighting EU involvement.
Industry
- Technology – OneUp Sales operates within the technology industry, utilizing gaming technology to innovate sales management systems.
- Venture Capital – Mercia Ventures, a private equity firm, provides financial backing, critical to OneUp Sales' expansion efforts.
- Sales & Marketing – OneUp Sales focuses on enhancing sales team performance and management, categorizing it within the sales and marketing industry.
Financials
- £1.5m – The additional funds raised from MEIF and Mercia Ventures for OneUp Sales' US expansion.
- £2.7m – OneUp Sales' annual recurring revenue (ARR).
- £5m – Total funds raised by OneUp Sales to date.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| OneUp Sales | Target Company | Company | A platform utilizing gaming technology to enhance sales team management and motivation. |
| Mercia Ventures | Investor | Company | A private equity firm investing in OneUp Sales to aid its growth and expansion strategy. |
| Midlands Engine Investment Fund | Investor | Company | A regional fund supporting businesses across the Midlands, part of a broader EU funding initiative. |
| Hitachi Vantara | Customer | Company | A data storage specialist company using OneUp Sales' platform. |
| Xcede | Customer | Company | A leading recruitment agency benefiting from OneUp Sales' services. |
| Premier Group | Customer | Company | A top recruitment agency that utilizes OneUp Sales' platform. |
| Derry Holt | CEO | Person | CEO of OneUp Sales, co-founder focusing on using gaming tech to drive sales motivation. |
| James Heath | Co-Founder | Person | Co-founder of OneUp Sales instrumental in creating the gaming tech-based sales platform. |
| David Baker | Investment Manager | Person | Investment Manager at Mercia, overseeing investments and supporting OneUp Sales' growth. |
| Debbie Sorby | Senior Investment Manager | Person | Senior Investment Manager at the British Business Bank, involved in OneUp Sales' funding activities. |
| British Business Bank | Investor | Company | Supports Midlands Engine Investment Fund, facilitating financial backing for OneUp Sales. |
| European Investment Bank | Funding Source | Company | Provides part of the financial support via the European Structural and Investment Funds Growth Programme. |
| European Union | Funding Source | Government | Contributes to the Midlands Engine Investment Fund through the European Regional Development Fund. |