Tech start-up QuoteOnSite secures £350k in equity seed funding round
QuoteOnSite announces cash injection to facilitate aggressive growth over the next 12 months thanks to investment from the Development Bank of Wales and Deri Green.
Swansea-based technology start-up QuoteOnSite has secured £350,000 in an initial seed funding round. Angel co-investor Deri Green has invested £200,000 with a further £150,000 of equity coming from the Development Bank of Wales Technology Seed Fund. Deri Green was introduced to the investment through Angels Invest Wales –Development Bank of Wales’ business angel network.
Four staff have been hired following the funding round, with plans to expand the team over the next year. The £350,000 seed round will also support user experience, research and software development on top of a comprehensive sales and marketing plan.
QuoteOnSite is a platform that streamlines the quote management process for businesses of all sizes from start-ups to established enterprises. For businesses that still rely on traditional methods of quoting QuoteOnSite provides a solution to the lack of visibility, traceability and analytics that form an integral part of a successful sales process.
Customers can supply their data and choose from a menu of products directly on the business’ website via an integrated contact form. This reduces time wasted on duplicating data-entry from traditional contact forms into downstream CRM systems.
The husband and wife team behind QuoteOnSite, TJ and Elaine Amas, identified the need for a quoting tool within the trade and construction industry. After two years of working on development and a huge amount of testing, QuoteOnSite officially launched in 2017. Since then their tool has been adapted for use across multiple sectors and enables any business or sole trader to provide easily accessible quotes to customers. The couple have successfully grown the business whilst still working and raising their young family. They sought equity funding through Angels Invest Wales and the development bank to take their vision to the next level.
TJ Amas, co-founder of QuoteOnSite said: “The investment has enabled us to now work full-time on QuoteOnSite and grow a team around us to make the product the best it can be. We’re now starting to get traction in the market with a solid sales and marketing strategy. Being located at the TechHub Swansea is allowing us to meet customers as well as providing a great working space. Having spent the last two years working on QuoteOnSite alongside full-time jobs and family life, Elaine and I are excited to be able to focus more fully on the business. We’re pleased our software and business plan have attracted the attention of venture capitalists and are delighted to have completed our first seed round.”
Alexander Leigh who led the deal on behalf of the Development Bank of Wales said: “QuoteOnSite is highly scalable and already has customers in multiple countries across the world. The investment will help the company as it refines its offering, ramps up marketing and brings on more employees. As a committed co-investor, we are looking forward to working with business angel Deri Green, who brings a wealth of experience in marketing and business strategy. Elaine and TJ have ambitious growth plans for QuoteOnSite which we are keen to support.”
Deri Green, angel investor said: “Every time I meet TJ and Elaine I am excited by their passion for their product. Having run two Software as a Service (SaaS) companies myself, I saw the potential of QuoteOnSite and was keen to invest and join the company board. When the opportunity was shared on Angels Invest Wales’ platform I was immediately struck by the potential of QuoteOnSite. This was only fortified by meeting TJ and Elaine. When I invest, I look for timing, authenticity and a strong work ethic. TJ and Elaine have all three!”
Carol Hall, South East Wales Manager, Angels Invest Wales said: “I’m delighted that we were able to introduce Deri Green to TJ and Elaine. QuoteOnSite’s innovative quoting solution addresses a real pain point for customers so it was easy to see the investment potential, and I was impressed by TJ’s commitment, drive and foresight. With little resource to date, QuoteOnSite’s product already integrates with key service providers. Now, with the addition of Deri’s mentorship and support QuoteOnSite are set for an exciting year ahead and I look forward to watching their progress.”
NOTES TO EDITORS
For all press enquiries please contact:
Elaine Amas Co-Founder and Chief Operating Officer
01792 823615
elaine@quoteonsite.com
ABOUT QUOTEONSITE
QuoteOnSite has helped companies improve the Quoting process.
From a single dashboard, business owners, sales managers and sales staff can all get a view of successful and unsuccessful sales, meaning that it is much easier to identify lost opportunities quickly and to make better informed decisions about where to deploy the sales effort.
The QuoteOnSite platform also offers a pioneering approach to reducing the time spent in gathering information required to create professional quotations.
They reduce the cost of change by offering a hands-on setup and training process for time-poor businesses of all sizes.
The QuoteOnSite team’s experience of dealing with a variety of business types in multiple sectors has made them experts in tackling a varied range of challenges faces by service and product based businesses.
QuoteOnSite is trusted by businesses in seven countries in Europe, America, Africa, Australia and Asia.
Website: https://quoteonsite.com/
ABOUT DERI GREEN
Deri Green is a successful entrepreneur who has set up, run and sold two SaaS companies. He now spends his time supporting multiple businesses he has invested in.
ABOUT ANGELS INVEST WALES
Angels Invest Wales is the business angel network for Wales. Launched in 2018 as an integral part of the Development Bank of Wales, it connects expert investors to growing Welsh businesses seeking private investment solutions by helping them find each other. The investment opportunities are open to experienced and first-time investors, and in particular those looking to invest in businesses as part of a balanced investment portfolio.
Through Angels Invest Wales, Welsh businesses can gain access to a quality network of sophisticated investors inside and outside of Wales who are all passionate about growing Welsh businesses.
• Angels Invest Wales provides a personalised service for business angels and experienced investors looking for sound investment opportunities.
• See a range of carefully selected and 'quality controlled' investment opportunities.
• Be an active part of a high-quality professional investor network.
• Potentially qualify for tax relief benefits and exemptions through EIS and SEIS approved opportunities.
• Explore 'best practice' in investment strategies and quality networking opportunity with other HNW individuals.
To help match investors and businesses there is an online investment platform. It allows businesses to upload deal information to the platform, showcasing directly to registered high-net-worth individuals while also providing investors with an easy and accessible source of business opportunities to review at any time.
ABOUT THE DEVELOPMENT BANK OF WALES
• The Development Bank of Wales was set up by the Welsh Government to support the economy of Wales by making it easier for businesses to get the finance needed to start up, strengthen and grow. The purpose of the Development Bank is to unlock potential in the economy of Wales by increasing the provision of sustainable, effective finance in the market.
• Launched in October 2017 it is a cornerstone organisation for delivery of public sector financial products, supporting micro to medium businesses in Wales and increasing the supply of finance. It promotes economic development through an adaptable delivery model that is responsive to market needs whilst providing continued value for money for public funds. It delivers key Welsh Government policy objectives measured through performance targets and providing investment management and support services across the whole of Welsh Government.
• The Development Bank of Wales invested £80m across 420 investments in the financial year 18/19 which in turn attracted £126m in private sector investment.
See the Development Banks of Wales latest performance here
Media centre: www.developmentbank.wales/media
Development Bank of Wales Plc (Banc Datblygu Cymru ccc) is the holding company of a Group that trades as Development Bank of Wales. The Group is made up of a number of subsidiaries which are registered with names including the initials DBW. Development Bank of Wales Plc is a development finance company wholly owned by the Welsh Ministers and it is neither authorised nor regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). The Development Bank of Wales has three subsidiaries which are authorised and regulated by the FCA. Please note that neither the Development Bank of Wales Plc nor any of its subsidiaries are banking institutions or operate as such. This means that none of the group entities are able to accept deposits from the public. A complete legal structure chart for Development Bank of Wales Plc can be found at www.developmentbank.wales