Rated People secure investment
Frog Capital provide growth funding
Rated People, the online tradesperson locator, has secured funding from Frog Capital, it has been announced.
Launched in 2005 by Andy Skipwith, Rated People provides a marketplace for homeowners to source skilled and reputable tradesmen, while generating more than £500m in business for the tradesmen using its service. With revenues of £7m, the tradesmen platform has been profitable for the third year running.
The company received advice from the technology investment bank FirstCapital, through its fundraising round and have predicted that Rated People will enjoy fast growth.
Skipwith said: “FirstCapital’s extensive experience in the online services sector helped us articulate our business strategy and present our value proposition in a clear and compelling way. A strong team, headed by FirstCapital CEO Jason Purcell, provided us with sound judgement and high quality advice throughout the fundraising process – and they were great people to work with.”
According to Rated People, the investment from Frog Capital will be used to provide the company with growth capital to continue recruitment and further invest in its online platform and mobile applications.
Jason Purcell, chief executive of FirstCapital, commented: “Rated People’s talented team and clear focus on creating value and sustaining high levels of growth places the company in a unique position in a fast-growing market. Now, with the backing of a high quality investor in Frog Capital, we expect further rapid growth of the company.”
© Crimson Business. Ltd 2011