Swansea 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.”