Some of the scale-ups added to this year’s cohort
Tech Nation, the government-backed UK network for tech entrepreneurs, has revealed the 30 companies joining its ‘Upscale’ programme.
Now in its fifth year, most of the 2020 Upscale 5.0 cohort have already raised a Series A round, and the average raise has increased from £4.2m in 2017, to £7.2m in 2020.
Average revenues have also increased by 64% from £1.1m to £1.8m over three years, while the average number of employees when joining the cohort has grown by 48% from 31 to 46.
The programme’s previous success stories include FinTech leader Monzo, energy firm Bulb, and software firm Improbable.
Cohorts on the programme will be aided in scaling themselves as leaders, and scaling their business internationally.
It will include sessions led by tech entrepreneurs from some of the UK’s most successful companies, including Nilan Peiris, the VP of Growth at Transferwise and Will McInnes the CMO at Brandwatch.
This year’s cohort were selected through judging process of tech entrepreneurs and established VCs, including Anthony Fletcher, CEO of Graze and Cherry Freeman, CEO, Lovecrafts as well as entrepreneurs who have gone through the programme themselves, such as Aron Gelbard, CEO of London-based Bloom & Wild.
More than two thirds of cohort are from London, the remainder hail from cities including Manchester, Cardiff, Cambridge, Leeds, Brighton, Belfast and Newcastle.
HealthTech, SaaS and eCommerce are the most popular sectors in this year’s cohort, each representing 17%.
Liam Ward, Upscale Lead at Tech Nation commented: “It’s incredibly exciting to announce the 30 companies joining the Upscale 5.0 programme, especially with many of this year’s cohort using technology to address important societal issues around health, waste and education.”
Eileen Burbidge, Partner at Passion Capital, who stepped down from her role as Chairman at Tech Nation this week, added: “Working closely with and investing in mid stage tech companies through Passion Capital, I have seen first-hand how valuable Tech Nation’s Upscale programme is to the UK tech ecosystem.
“I’m particularly pleased to see the funding landscape maturing, reflecting the growth of the UK tech sector as a whole and the expertise of the founding teams.”
The 2020 cohort
allplants – London
Plant-based, frozen food delivery service.
AMPLYFI – Cardiff
AI and machine learning for the business intelligence market and market research.
Arctic Shores – Manchester
Data-driven psychometric tests that combine neuroscience, AI and game technology, to eliminate bias during hiring and promotion.
Chattermill – London
Uses AI to provide customer feedback at scale to clients looking to improve services and products.
Eagle Genomics – Cambridge
Helping companies make more accurate and credible scientific claims via machine learning.
eporta – London
B2B platform for interior design professionals.
Everledger – London
Creates a secure and permanent digital record of an asset’s origin, characteristics and ownership on their private blockchain.
Farewill – London
Provides a platform for legally binding wills and probate from home
Florence – London
Marketplace for flexible staffing in the care sector.
Kheiron Medical – London
Works with radiologists, and uses data and machine learning to build products that help breast radiologists in their daily practice.
LandTech – London
Helps property developers find land, get through planning and raise funding in a more streamlined way
Lexoo – London
Delivers legal services by combining tech, process and a network of over 1000 former BigLaw lawyers in 70 countries.
Neurovalens – Belfast
Treats global neurological health issues by influencing the brain and nervous system using safe and non-invasive technology.
Oddbox – London
Saves vegetable produce from going to waste
Panintelligence – Leeds
White-labelled predictive analytics and data visualisation software
Peanut – London
A social network for women, connecting them through their experiences with fertility and motherhood.
Pimberly – Manchester
Used by manufacturers, distributors and retailers to market and sell products across multiple sales channels.
Plum – London
AI assistant which uses automation to help its users save money switch bills and invest.
Seatfrog – London
Travel app helping travellers upgrade their seat.
SeedLegals – London
Automated legal service for funding rounds.
SoPost – Newscastle
Helps brands to deliver physical trial products to consumers’ hands through media campaigns, influencer partnerships, and content.
Spirable – London
Personalised, data-driven brand videos with data from live data-feeds, delivered through social channels and CRM platforms.
ThoughtRiver – Cambridge
Pre-screening technology automating the review process of contracts for lawyers
Thriva – London
Finger-prick blood test tool, reviewed by an NHS approved lab, which provides personalised advice on health.
TrustedHousesitters – Brighton & Hove
Platform for mutual exchange of house use in exchange for pet-sitting.
Tyk – London
Open-source API Gateway powering microservice platform
Vidsy – London
Mobile video ad creation for the world’s leading brands
WhiteHat – London
Works with employers to identify, hire, and develop diverse talent through apprenticeships.
Zen Educate – London
Online platform which matches teachers with available supply teaching roles in schools
Zencargo – London
Collects real-time data on the progress of each supply chain product and acts as a single version of truth for teams to uncover insights and opportunities.