Award-winning entrepreneur eyes IPO and unicorn status
One of the UK’s most highly-rated tech companies is on course to grow turnover to £6 million and is now exploring investment from tech VC funds and a potential IPO.
Cloud-based omnichannel and data analytics platform Connex One was set up by Nicholas Mealey in 2013 and former Tesco CEO Sir Terry Leahy, Brian Kennedy and Bill Currie became investors after a £9.1m share sale to private equity firm Belerion Capital in 2017.
Manchester-based Connex One is on track for a record year in 2018 with revenue set to grow £6m and plans to open a US office.
Mealey, 27, was recently named as the Young Entrepreneur of the Year Award at the Northern Tech Awards 2018 and has a reputation for working seven days a week and shunning social media.
He told BusinessCloud he’s been inundated with offers from tech VC funds and is looking at a possible IPO to fund their growth plans.
He thinks the company has the potential to be a unicorn with a $1bn+ valuation. “The sky’s the limit,” is how he describes Connex One’s potential.
Connex One’s cloud-based software works in the browser and allows businesses to communicate with their customers via omnichannel. Once logged in, it tracks the contact with people over different channels whether that’s by phone, SMS, email, webchat or social media.
This omnichannel approach means that recruiters can track communication with potential employees over their preferred channels, for example, and customer service professionals can track enquiries, even if a conversation starts on web chat and ends on the phone.
The software is already connecting 8.5m interactions a day and the plan is to increase this to 100m.
Connex One employs 35 people at its Manchester-based headquarters and has recently opened up its first international office in Durban, South Africa.
The move overseas prompted talk of an IPO. However Mealey said going public would be no reason for the business to leave its Manchester home.
"I wake up every day, building Connex One in the North West and it helps puts Manchester on the map,” he said. “You've got Boohoo, UKFast and The Hut Group. There are many other very successful North West businesses and it's fantastic for the region.
“I think Manchester has fantastic potential, the city is booming at the moment and there are a number of really exiting tech businesses to keep an eye on.”