This article was originally posted on the Tech City UK website.
Today we’re announcing the first 30 companies to join Upscale. The Upscale programme from Tech City UK will power 30 of the fastest growing UK tech companies on their scaling journey
Following a high level of exceptional applications and a competitive judging process, the companies selected represent the emerging digital businesses with the most potential for rapid scale and international growth.
Upscale in numbers:
90% of companies incorporated in the last six years
Average fund raise thus far: $8M
Average revenue: $1.8M
Average number of employees: 30
Average growth of sales revenue was 53% month-on-month – over the last three months, where indicated as primary business metric
The first intake of businesses reflects the growing diversity of the UK’s digital specialisms. Upscale companies also demonstrate the range of sectors being disrupted by data-led innovation, where growth businesses are making sophisticated use of data analytics to help with everything from determining credit risk to choosing what to wear.
As part of the programme, the 30 Upscale companies will work with Scale Coaches that have a proven track record of growing successful tech companies across the world.
Full list of Scale Coaches:
Niklas Zennström – Skype, Atomico
Brad Feld – Techstars, Foundry Group
Alex Chesterman – Zoopla
Saul Klein – LoveFilm, Seedcamp
Sarah Wood – Unruly
Greg Marsh – One Fine Stay
Simon Calver – LoveFilm, Moo
Jerry Colonna – Reboot.io
Alexandra Depledge – Hassle.com
Tracy Doree – Llustre, Spring Ventures
Doug Monro – Adzuna
Anthony Fletcher – Graze
Scale Coaches will share their experience to help Upscale entrepreneurs address the specific challenges encountered by fast-growth businesses.
Programme partners Silicon Valley Bank and law firm Cooley LLP will support Upscale entrepreneurs by offering bespoke financial and legal advice on scaling, including those looking to expand into new markets like China or the US.
Upscale builds on Tech City UK’s commitment to support UK digital businesses at every stage of their lifecycle and growth trajectory, from the Digital Business Academy for very early stage entrepreneurs, to Future Fifty for much later stage businesses.
Gerard Grech, CEO of Tech City UK, said: “Upscale from Tech City UK is a grassroots initiative to coach the next generation of UK-based entrepreneurs. Upscale has been built from the ground up, using direct feedback from company founders, investors and ecosystem partners. I’d like to welcome everyone aboard and thank all of our advisors and friends who helped this take off.”
Eileen Burbidge, Chair of Tech City UK and Upscale Advisor, said: “I’m thrilled that Tech City UK is launching Upscale, which will provide valuable support and resource to some of our fastest growing and most promising digital businesses in Britain.”
Scale Coach Sarah Wood, co-founder and co-CEO of Unruly, said: “Our tech start-up ecoystem is stronger than ever; scaling UK start-ups further and faster is now the most pressing challenge for UK PLC if we want to harness the business opportunities brought about by the digital revolution. Only by working together and sharing our expertise can we ensure that as many UK companies as possible go from start-up to scale-up and contribute to the future growth of the UK’s digital economy.”
Alex Klein, co-founder of Kano, said: “Finding opportunities to connect with other startups is very valuable. It’s incredibly helpful for our team to meet their peers in other companies, as part of the Upscale programme, so that everyone can learn from each other.”
Lloyd Price, co-founder of Zesty, said: “We think this Upscale is an exciting programme to help us entrepreneurs share really difficult truths and lessons in order to scale up. We’re proud to be a part of it.”
Full list of Upscale companies:
Administrate: provides training management and learning management software to help organisations define, track, and deliver high quality education
Appear Here: is the leading marketplace for short-term space. Find, book and list retail space, all online
Bloom & Wild: exists to make sending and receiving flowers the joy that it should be, every time
Cocoon: creates an all-in-one home security product that protects the most important place your life
Depop: is a mobile-first marketplace for consumer goods
EDITED: is the industry standard for how fashion retailers get their pricing and product right
Elliptic: identify illicit activity on the Bitcoin blockchain, and our clients include financial institutions and law enforcement agencies
Global App Testing: makes the feedback loop between development and test instant, helping you release high quality products in the fastest time
Growth Street: an alternative finance platform for SMEs, that offers borrowers great finance terms on business overdrafts and delivers a superior, risk-adjusted return for lenders
GrowthIntel: accelerates B2B trade using NLP, data science and machine learning – turning primary source unstructured data into predictive go-to-market intelligence
Import.io: is a web-data platform that puts the power of the machine-readable web in your hands. Individuals and businesses can turn messy websites into structured tables of data
Improbable: Improbable is developing SpatialOS; a distributed operating system that makes building simulated worlds possible
Kano: wants to inspire a new creative generation that has the toolkit to make, learn and play with technology
Lingvist: is building the next generation language learning software. The goal is to make language learning 10x faster by using mathematical and statistical methods
M Squared Lasers Ltd: research, design and manufacture world-class lasers and advanced photonic systems for use in a myriad of academic and commercial applications
Metail: creates technology that enables consumers to try on clothing online
Ometria: is a customer insight and marketing automation platform that helps retailers truly understand their customers, and personalise the way they communicate with each one
Pact Coffee: delivers incredible freshly roasted coffee by post – shipping the coffee within 7 days of roasting and grinding it at the last moment, to make it easy for people to drink fresher coffee everyday
Property Partner: allows anyone to buy and sell shares in residential property at the click of a button
Receipt Bank: is the leading provider of automation to accountants and bookkeepers around the world
SAM Labs: creates an amazing Internet of Things education kit
Seedrs: is the leading equity crowdfunding platform in Europe
Show My Homework: is a platform that is re-inventing the century old problem of homework for education systems around the world
Snap Fashion: leads consumers to exactly what they want to buy online through visual search
Sybenetix: the working with hedge funds, banks and asset managers to systematically improve investment performance and conduct management
Synthace: engineers biology for applications across health, food, energy and manufacturing
Thread: helps men dress well using a combination of human stylists and machine learning algorithms
Touch Surgery: empowers and connects a global community of surgeons to make better decisions. The app takes the operating room and puts it into your pocket though virtual reality
Wakelet: helps people to organise content from across the web into stunning, shareable collections
Zesty: is the UK’s leading Digital Health Platform that allows patients to book and manage healthcare appointments, on any device, in under 60 seconds
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