Angels in the City, a programme devised and delivered by London Business Angels, one of the UK’s leading angel investment networks with over 30 years of experience has selected its top 10 businesses to watch from its Angels in the City programme. These 10 companies have raised £11m of total investment from Angels in the City and its associated investors alongside further early stage co-investors.
The Angels in the City programme has been running for over three years without any fees/charges to either its angel investors or entrepreneurs. In that time some 120 companies have been supported through the programme of which over 40 have gone on to raise over £40m of investment, Theprogramme is supported through grant and in-kind sponsorship from the City of London, Lloyds Bank and the European Regional Development Fund (ERDF).
Angels in the City has selected its top 10 companies to watch. All of these companies having successfully raised money through the Angels in the City programme:-
Captive Media is a digital Out-of-Home and Interactive advertising signage business. The Company successfully raised over£600k of investment earlier this year after joining the Angels in the City programme in late 2014 including a circa £100k investment from the London Co-Investment Fund (being this fund’s first ever investment). Captive Media recently announced the expansion of their network to 200 screens in 16 cities across the UK.
Curb is a preventive health app and offers a digital process for people with unhealthy cravings. The company uses machine learning, in order to break these habits. The company raised an SEIS round of £150k through Angels in the City in mid-2014 and has since gone on to raise an EIS investment round as well as signing a number of major deals with blue chip pharmaceutical companies.
FlatClub is the leading marketplace for medium term stays, between a few weeks to a few months, when stays are too short for real estate agents and too long (and expensive) to use Airbnb / Hotels. FlatClub has contracts with Google, Microsoft and LEK Consulting as corporate customers in addition to 50 university partnerships. The company participated in Angels in the City in early 2015 and has recently closed a £1m angel round which included a £150k investment by the London Co-Investment Fund. FlatClub achieved 300% revenue growth in 2014.
Hopster founded in 2012, aims to re-invent the children’s TV channel as an app for iPads and other connected devices, turning TV into an interactive, experience that combines entertainment and learning– and shaking up the $200bn pay-TV industry. The company raised significant investment from Angels in the City and associated investors in December 2013 and has sincebeen named by Apple as one of 2014’s best apps having been downloaded over 200k times. Recently, the company secured a multi-million pound equity investment by a strategic investor to roll out its products internationally. The company has also signed commercial partnerships with Samsung and DreamWorks Classics.
Intern Avenue is a Talent Management Platform for skilled graduates to connect with employers. The company’s proprietary technology uses standardised data to automate the filtering and matching process of finding the best candidates for available opportunities. The company closed a £600k round through Angels in the City in early 2014. Around 2,000 employers and 40,000 intern applicants have registered with the service.
Network Locum founded in 2011 is a disruptive online marketplace connecting medical organisations and medical locums online. Angels in the City helped the company to complete a significant investment round in April 2014. Network Locum has used the funds to gain market share in the GP sector and expand into the care homes market to build on its network of 700 GP practices and 2,000 GPs.
Onfido is an online employment screening company with a data-driven platform that helps employers make fast, informed decisions on who they can trust. Founded in August 2012 by four Oxford University graduates, the company enrolled in the Angels in the City programme in June 2014, successfully completing a funding round. Onfido recently raised a $4.5m Series A and now provides background checking services for over 400 clients in the US and 28 countries across Europe.
Sales Gossip aims to help retailers drive traffic & footfall by targeting their promotions to the relevant customers and give shoppers access to every fashion & beauty promotion, with personalised alerts from their favourite brands. Described as the “Tinder for fashion”, Sales Gossip connects customers to over 1,500 brands. The company successfully raised £600k in January 2014 and has over 300,000 subscribers to its service.
The Backscratchers connects companies with recommended talent for projects via their platform, saving clients an average of 90% of the cost of finding top talent. The company successfully raised funds through Angels in the City in December 2013 and has gone on to secure clients including Unilever, Sony, Red Bull, Universal, Ogilvy, BBH and many more.
Uncovered created a two-sided marketplace that matches excess supply with consumer demand through an app that offers a short list of restaurants based on consumers’ geo-positioning and table availability, allowing diners to discover and book a restaurant in under a minute. The company completed a significant funding round in August 2014 and it now counts more than 200 restaurants on its books.
In addition to these companies, a number of other Angels in the City participants who raised money from other angel and institutional investors are well placed to make a big impact in 2015:
Hassle offers a free-to-the-consumer, destination web site that puts together buyers (consumers) and sellers of home based services. The company is backed by Accel Partners and raised £3.5m last year.
Gousto is a weekly subscription service which makes it easy for customers to cook healthy and well-balanced meals at home. The company recently raised $8.3m from Unilever’s venture capital arm and London-based MMC Ventures.
Tamoco is a technology enabler and consumer data company using mobile technology to make physical marketing interactive. The company secured at £3m in financing last year from China-based First Eastern Investment Group.
Grabble is a fashion app for web and mobile that helps users discover, browse, save and purchase the latest fashion in one place. The company now boasts clients such as Topshop, Asos, Selfriges & co and Zara and raised over £1m from high profile angel investors.
Kantox allows companies to directly find counterparties to match and net their future cash-flows in foreign currencies without the intermediation of banks. Following the company’s successful circa £5m fundraising it now has more than 1000 clients trading over 25 currencies and it has seen more than $1.1bn exchanged over its platform.
Anthony Clarke, London Business Angels, CEO comments, “since launching over 3 years ago at the City Hall, the Angels in the City programme has established itself as a go-to place for City of London based companies to raise growth capital. Over 120 companies have now benefited from the support and mentoring afforded by the programme with many going on to raise significant rounds of investment, thereby creating many newjobs and economic growth in the City. Having recently become a partner of the £25m London Co-Investment, LBA is better placed than ever to help the next wave of London’s digital tech entrepreneurs to create world class companies. “
About London Business Angels
LBA is one of the most experienced private angel networks in the UK. Since the early 1980s the network has been connecting innovating fast growth small and medium sized enterprises with investment through our network of business angel investors. LBA, part of Angel Capital Group, is professionally managed by a highly experienced management team, leveraging over 15 years’ experience in the early stage investment marketplace as established leaders in the development of new angel-led early stage investment initiatives, and nearly 30 years’ investing experience through the LBA network. LBA is a founding member of the UK Business Angels Association, the industry's best practice trade association, and is also a member of EBAN, the European Business Angels Network.
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