Newcastle entrepreneur secures over £500k to expand new tech business

Newcastle Entrepreneur Secures Over £500k To Expand New Tech Business

Serial entrepreneur Kevin Beales has launched his latest tech business in the North East, MySalesCoach.

Newcastle Entrepreneur Secures Over £500k To Expand New Tech Business

MySalesCoach, the first company to offer virtual access to expert one to one sales coaching to sales teams as a subscription service, has secured investment of over half a million pounds shortly after launching.

Newcastle Entrepreneur Secures Over £500k To Expand New Tech Business

With £250k from the North East Innovation Fund, supported by the European Regional Development Fund and managed by Northstar Ventures, and additional funding from Angel investors including prominent tech company CEOs, the funding will support MySalesCoach to scale up and expand.

Newcastle Entrepreneur Secures Over £500k To Expand New Tech Business

Although launched just this month, the company has already secured clients in the US as well as across the UK. Kevin Beales, who has previously founded and successfully exited two other sales focused businesses, including most recently Refract, co-founded MySalesCoach with Mark Ackers, having worked together for the last 12 years.

Newcastle Entrepreneur Secures Over £500k To Expand New Tech Business

Kevin commented “I have been involved in developing solutions technology to improve the performance of sales teams for the last decade now. Research has shown that sales coaching has the single biggest impact of any activity on performance and revenue, but most managers don’t have the time or even the skills to deliver it to their teams.

Newcastle Entrepreneur Secures Over £500k To Expand New Tech Business

“While virtual coaching is a growing industry in many other sectors, from my own experience it was clear there was a real gap and need for it to help support sales teams achieve their potential.

“We match sales people with expert coaches who have worked in the same industry, role, and sector, so the one to one virtual coaching is targeted and relevant for the individual. By offering a subscription service we can offer plans to suit individuals, small or large teams.

“With many companies now streamlining their sales teams, it’s more essential than ever they are performing at their best, and MySalesCoach supports them to do that.”

Northstar Ventures investment manager Khadija Ashfaq, added: “Having worked with him on Refract, we know first-hand the experience, drive and talent he has as an entrepreneur, and the number of SaaS CEOs and the calibre of the Angels participating in this round is testament to this.

“Often we speak with companies that are struggling to support their sales team and lack the resources needed to help them perform to the best of their abilities. MySalesCoach offers an easy, cost-effective solution to both individuals and teams. We are excited to be supporting the company and the team on this journey.”

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By Matthew Neville – Senior Correspondent, Bdaily

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