Member News
The highly effective sales coaching platform developed by MySalesCoach has netted the company a further £935,000 of investment from Northstar Ventures as part of a £1.1m funding boost.
MySalesCoach provides high quality, personalised sales coaching for businesses of all shapes and sizes to enable sales teams to achieve their full potential. The company was founded based on the evidence that regular, personalised coaching sessions have a significant impact on the performance of sales teams, but that busy managers struggle to prioritise this alongside their other responsibilities.
The MySalesCoach solution matches the user with a best fit sales coach from a panel of high calibre, experienced sales experts familiar with a wide range of challenges faced by sales teams. The investment will support the development of new AI tools that will provide users with real time sales support.
The business has experienced rapid growth since being founded in 2022 with current annual recurring revenues of more than £1m. Co-founder and CEO Kevin Beales is an experienced third-time founder and is well-known to Northstar Ventures, having previously founded and exited The Test Factory and Northstar backed Refract.
This investment comes from two of Northstar Ventures’ funds; £740,000 from the North East Innovation Fund, supported by the European Regional Development Fund, and £195,000 from the Northstar EIS Growth Fund. Creative UK is also investing £150,000 through the North of Tyne Culture and Creative Investment Programme funded by the North East Combined Authority (previously the North of Tyne Combined Authority), with an additional £85,000 from angel investors. The investment from Northstar has enabled MySalesCoach to access a grant via Innovate UK’s investor partnership programme. A grant from the National Innovation Centre for Data in Newcastle has also been given to support the AI integration.
Commenting on this latest round of investment, Tom O’Neill, Investment Manager, Northstar Ventures said: “We are excited to provide further support for MySalesCoach which has grown significantly since our initial investment in 2022 and is now well placed to scale further. Utilising our investor network to introduce Creative UK and new angel investors has provided additional capital to further accelerate the next stage of the business’ growth. MySalesCoach’s use of AI shows how businesses in the North East are adopting the latest technologies to deliver inventive solutions that make a real difference to their customers. We look forward to working with MySalesCoach in the next stage of their development and to seeing the business continue to flourish.”
Kevin Beales, Founder and CEO, MySalesCoach added: “We have been fortunate to work with Northstar since our launch in 2022, and their support, expertise and funding have been an integral driver in our growth. Our initial success - working today with over 100 sales teams and delivering over 5,000 1:1 expert coaching sessions - has given us all the confidence to further invest in both further growth and the transformative opportunities today in AI.”
Rahul Misra, Investment Principal, Creative UK, says:” ‘We are pleased to join the investor journey for MySalesCoach as they build on early success and move into their next phase of growth. The MSC business model leverages human connection, technology, and AI to upskill teams and improve revenue outcomes for businesses. The commercial proposition and network effects for the Northeast ecosystem make this a compelling opportunity for our fund partnership with the North East Combined Authority. We look forward to the journey ahead.”
