Open Blend raises £250k from Henley Business Angels members to expand its team and product.
£250K
Open Blend develops software that helps managers conduct coaching led one to ones and track team development.
Open Blend has secured £250k in funding from two members of Henley Business Angels. The company provides a performance management platform designed to help managers run coaching led one to ones.
The capital will be deployed to support business growth, including team expansion, product development, and marketing activities. Open Blend finished 2018 with an invoice value of £716k and is targeting £2m for 2019.
From the founder
"We are using the funds to drive the growth of the business, including the growth of the team, product development and marketing activity. We closed 2018 with a total invoice value of £716k, an increase of 102% on 2017, and for 2019 we are aiming to double our team and hit an ambitious £2m invoice target."
AR
Anna Rasmussen
Founder at Open Blend
Investor perspective
"I am delighted to become involved with Open Blend. Making people managers more effective is critical for businesses and they have a distinctive approach and solution to deliver success for their clients. Anna and the team are building a great business, which are about the same size as Fairsail was when I became involved. It’s so exciting to help them scale up in the same way."
AH
Adam Hale
Member, Henley Business Angels
Use of funds
- 01Grow the team
- 02Continue product development
- 03Invest in sales and marketing
Investors
Categories
About the company
OB
Open Blend
Open Blend provides a people platform for managers to facilitate coaching led one to ones.
Henley-on-Thames, UK
£250KRaised