‘The opportunity to combine AI and human expertise in sales coaching is creating a unique moment in time’
Left to right: Kevin Beales, Sarah Newbould and David Nixon(Image: British Business Bank)
A Tyneside company specialising in sales coaching is set for growth on the back of a £1.5m investment.
The MySalesCoach platform was launched three years by tech entrepreneur Kevin Beales and co-founder Mark Ackers, bringing together sales coaches with teams which need training. The service was devised to help time-poor sales managers to find their reps the training required to maximise their performance.
Since its launch, the business has sealed a number of rounds of investment, fusing expert sales coaches and AI. Now the company has received £1m in funding from NPIF II – Maven Equity Finance, managed by Maven as part of the Northern Powerhouse Investment Fund II. MySalesCoach has also been given investment of £500,000 from existing investors Northstar Ventures and Creative UK’s North East Fund.
The investment into MySalesCoach will support development of the company’s technology platform, with expanded sales and marketing activity aimed at driving international growth.
Mr Beales, co-founder and CEO at MySalesCoach, said: “The opportunity to combine AI and human expertise in sales coaching is creating a unique moment in time. Our platform is re-engineering how sales teams can be coached with the daily frequency of AI, and the impact of human expertise to impact growth and performance in a way previously unachievable.
“Securing investment from NPIF II and Maven, alongside the support of our existing investors, comes at a pivotal time. With this backing we’re ready to scale and support more organisations and individuals who want to improve sales outcomes in a rapidly evolving market.”
David Nixon, senior investment manager at Maven Equity Finance, said: “The rise in hybrid working has accelerated the adoption of online training and coaching and recent studies show clients now prefer remote coaching due to the flexible model it provides. Kevin and the senior team are highly experienced and have built a strong business operating in a high growth market.
“We’re delighted to support the platform at this point in the company’s development to invest in its innovative technology solution and fuel international expansion plans.”
Sarah Newbould, senior investment manager at the British Business Bank, said the deal cements NPIF II’s focus on supporting high growth priority sectors within the Government’s Industrial Strategy.
She added: “Through NPIF II we’re committed to supporting innovative, tech-enabled businesses across the North of England to scale and grow at pace. These businesses provide vital services, helping to drive efficiency across key sectors, while also advancing the Government’s Industrial Strategy by strengthening the UK’s digital economy.
“MySalesCoach is doing exactly that straight out on Newcastle, and we’re proud to be part of their journey and unlocking opportunity across the North East’s vibrant technology sector.”
The investment news comes as the British Business Bank announces it will be investing additional capital through the existing Northern Powerhouse Investment Fund II into innovative, high-growth businesses,bringing the total investment to more than £150m.
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