Laying a Firm Foundation to Success

Innovative company Buildersite.co.uk secures funding round

[Posted on 28 January 2008]

An award-winning marketplace which matches homeowners and tradesmen for construction and home improvement projects has just announced a seed round of investment from some of the UK's top angel investors.

The Buildersite.co.uk, founded by former stonemason Ryan Notz, announced today that it closed a round designed to bolster its technology, marketing and customer support activities. The round was led by Alex Hoye who brings internet marketplace experience after co-founding GoIndustry which went public in 2006. Other investors included The Acceleration Group, who principles Robin and Saul Klein started and have invested in successful UK start-ups including Lovefilm, Agent Provocateur, Moo and OpenAds. Paul Birch who co-founded social networking site Bebo and Jamie Murray Wells who co-founded Glasses Direct were also investors.

"I am thrilled that such an experienced group of angels believes, as I do, that the time is right for a new way for homeowners and tradesmen to work together. This funding will enable us to expand the team to enhance our offering of reputation-driven matches," said Ryan Notz, founder and CEO of Buildersite.co.uk. "Our priority this month is expanding the web development and marketing teams. The take up and feedback from our users has been fantastic so far - it's a real buzz to build something that is really changing a market" he continued.

The Buildersite 'Services Marketplace' is a new concept in high-tech online trading which allows a transparent and competitive bidding process. The consumer lists their job 'e-bay' style and waits for bids to come in. During the bidding process the consumer will receive questions from tradesmen and requests to visit their house. They get to vet each builder first by reading their profiles and feedback. After their listing has ended, they can compare bids and decide which one they want to use.

Buildersite customers have been equally positive about the company's expansion plans. Cymon Allen, a plumber from Tunbridge Wells said: "I think that it is an absolutely brilliant idea. Finding a good tradesman is fraught with problems and anything that helps weed out the cowboys is excellent news for everyone connected with the building trade."

Buildersite is an alumnus of the SETsquared Business Acceleration Centre in Bristol. "Ryan was in the Centre for 15 months and we very much enjoyed working with him to accelerate Buildersite towards this round of investment. We are proud to be associated with the company and wish Ryan the best for the future," said Nick Sturge, Centre Director.

The Bristol SETsquared Business Acceleration Centre, one of five in the south and southwest of England, is part of the SETsquared Partnership, the enterprise collaboration of the Universities of Bath, Bristol, Southampton and Surrey. Together they support early-stage, high growth-potential science and technology ventures from both within and outside the universities to accelerate their businesses.

For further information please contact:

Sadia Haq
Research and Enterprise Development, University of Bristol
Tel: +44 (0)117 928 8676, Email:sadia.haq@bristol.ac.uk
www.bristol.ac.uk/research

or

Ryan Notz
Founder and CEO, Buildersite.co.uk
Tel: +44 (0)207 808 5923, Email:ryan@buildersite.co.uk
www.buildersite.co.uk