Martin Port leads funding round into Rated People
Martin Port, the serial entrepreneur behind Masternaut and BigChange, leads investment into online tradesperson marketplace Rated People.
Martin Port is the lead investor in a funding round for online tradesperson platform Rated People.
His seven-figure investment will be used to accelerate growth at the company as it continues to bolster its user base. This is the first angel investment from Martin Port, who joins existing investors Frog Capital, Downing Ventures and Channel 4.
Rated People is the UK’s leading online marketplace matching homeowners with skilled, local tradespeople. The platform is used by nearly 1 million UK homeowners each year, looking for the right trades businesses who can help them complete domestic and commercial jobs.
More than 50,000 tradespeople are featured on the site, from builders to roofers, plumbers to electricians, and more.
‘A fantastic business’
Rated People, which recorded revenues of £11.5m in 2020, is led by Adrienne Minster, who was appointed Chief Executive Officer in 2020 after 4 years in the business as Chief Commercial Officer and then COO.
“Rated People has come through the last two years in a strong position,” she says. “This deal will enable us to accelerate our growth in 2022, and I know that Martin’s experience will help us to add even more value to both trades businesses and homeowners across the UK.”
“Rated People is a fantastic business providing an exceptional service to both tradespeople and homeowners alike” says Martin. “I have been a customer of the platform and was impressed by the concept and execution. I’m a big fan! I look forward to supporting Adrienne as she takes Rated People to the next level.”
Following the deal, Martin is joining Rated People as a Board Observer and Strategic Advisor. He remains chairman of BigChange, the technology company he founded in 2013.
“Through BigChange, which provides technology to help tradespeople grow their businesses, reduce carbon footprint, and drive efficiency, I have come to know the needs of this industry very well” he says.
“I hope to bring all my experience to bear in Rated People.”
Rated People is Martin’s first foray as an angel investor.
“I have loved being an entrepreneur and growing businesses from nothing into international success stories,” he says. “Right now, I’m also enjoying the ability to invest back into the entrepreneurial ecosystem to help the next generation to thrive. It is a privilege to support Rated People in this next phase of its growth.”
About Rated People
Founded in 2005, Rated People is the UK’s leading online marketplace matching homeowners with skilled, local tradespeople.
Over 50,000 tradespeople use the site and 1,000,000 jobs are posted every year by homeowners wanting to make the most of where they live.
Once the work is complete, homeowners leave a review of the tradesperson – and this feedback helps give other homeowners peace of mind that they’ve found someone reliable.
In 2021, Rated People also secured a position on three of the Sunday Times’ Best Companies lists for the first time.
The company featured on the UK’s 100 Best Mid-Sized Companies to Work For, London’s 50 Best Mid-Sized Companies to Work For and the Business Services’ 20 Best Companies to Work For – a sector-specific category, new for 2021.
About Martin Port
Martin Port is a technology pioneer based in Leeds, Yorkshire.
He is a serial entrepreneur, who has built three successful businesses during his career. Martin founded his current venture, software-as-a-service company BigChange, in 2013. BigChange’s field service management technology is the core workflow tool for businesses employing field service technicians and operators across the UK, Europe, the US and Australia.
BigChange’s tools provide job scheduling, customer invoicing and payments automation, mobile workforce management, and client engagement to 1,900 small to enterprise clients spanning more than 60 industries.
In 2020, BigChange was recognised for its outstanding innovation in the Queen’s Awards for Enterprise, the UK’s highest official awards for British businesses.
In 2021, Boston-based Great Hill Partners invested £75m of growth capital in BigChange, valuing the company at £100m.