Channel 4 leads £5.2m funding round in online tradesperson marketplace Rated People

 
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Channel 4 along with Downing Ventures are investing £5.2m in the website (Source: Getty)

Broadcaster Channel 4 has joined a £5.2m fund raising in web trade directory Rated People.


The cash, which will also come from investment service Downing Ventures, will be used to enhance Rated People's tech platform and grow its sales.

Created in 2005, Rated People is an online platform helping consumers get quotes from over 50,000 tradesmen for home maintenance jobs.

Around 3,000 jobs per day are posted on the site, equating to over a million jobs a year.

Alex Mahon. Channel 4 chief executive, said:


At Channel 4, we like to work with innovative brands who have fantastic stories to share. We’re excited by the work Rated People is doing to transform the home improvement space and delighted to give them the medium to accelerate their future growt​h.

Cella Francis, boss of Rated People, said the company had experienced "significant growth" in recent years.

"The £2.5bn of work flowing through us is huge and we’re operating in an exciting industry where that translates to a 4.5% market share," she added.

James Lewis, investment director at Downing Ventures, said: "Rated People have the technology expertise to give homeowners close to on-demand access to quality, local and, most importantly, available tradespeople who can provide competitive quotes to get their work completed. We believe that this is a compelling opportunity to back an impressive management team in a growing and digitally under-penetrated UK market."