Northern Powerhouse Investment Fund II set to supercharge innovation clusters across the North as latest £1m investment is announced
Newcastle-based MySalesCoach Limited, who deliver a Sales Coaching Operating System fusing expert sales coaches and AI, received £1m in funding from NPIF II – Maven Equity Finance, managed by Maven as part of the Northern Powerhouse Investment Fund II. The investment is alongside an additional £500,000 from existing investors Northstar Ventures and Creative UK’s North East Fund.
This latest investment news comes as the Bank announces it will be investing additional capital through the existing Northern Powerhouse Investment Fund II into innovative, high-growth businesses, to supercharge clusters in the Northern Growth Corridor, bringing the total investment to more than £150m.
This will be backed by a strengthened local growth network that the Bank is developing, which will leverage deep knowledge of the region and stakeholder connections to bring high-growth businesses and investors together, helping create thriving financial ecosystems within the clusters.
NPIF II has a significant track record in funding ambitious businesses with growth plans across the North. The investment into MySalesCoach will support development of the company’s technology platform, with expanded sales and marketing activity aimed at driving international growth. All of which reflects NPIF II’s continued focus on supporting high growth priority sectors within the government’s Industrial Strategy, demonstrating the potential of the UK’s digital and technology industries.
Kevin 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, added: “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:“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.”
Tom O’Neill, investment manager at Northstar Ventures, added:“We’re delighted to support MySalesCoach with further investment from our Innovation Fund and EIS Growth Fund. MySalesCoach has achieved strong growth since our initial investment in 2022 as a result of its compelling product and experienced team. We have backed the business consistently since then and the business is well placed to take advantage of significant opportunities in the rapidly evolving wider sales coaching market. Congratulations to Kevin and the team”.