RatedPeople.com, a London, UK-based platform that connects homeowners with local tradesmen, raised £6.5m in pre-IPO funding.
Backers included Frog Capital (£5.5m) and Western Technology Investment (£1m of venture debt). In conjunction with the round, Keith Roberts, the former Chief Financial Officer of FTSE-100 international oil and gas facilities service provider, Petrofac (PFC.L), joined the board as Senior Non-Executive Director.
The company intends to use the funds for product and technology development as well as for a new advertising campaign fronted by property expert Phil Spencer.
Founded in 2005 and led by Chris Havemann, CEO, and Adrian Cox, Chairman, RatedPeople.com is an online marketplace connecting homeowners with recommended local tradesmen. The, which has 50 employees, supported by a team of 30 customer service and support personnel, company has national coverage and covers all major trade types, including building, roofing, plumbing, electrical, joinery, painting & decorating and gardening work.
It had £12m revenues in 2013.
FinSMEs
11/02/2014