Frog Capital backs RatedPeople.com pre-IPO round

The funding comes in the form of a £5.5m equity investment led by Frog and a £1m venture debt contribution from WTI.

RatedPeople is planning to float on the AIM market of the London Stock Exchange at some point this year. The company is looking to raise a further £5-10m in its IPO.

Previous funding
In February 2011, Frog injected £3m into RatedPeople via its family office-backed fund. At the time of Frog's investment, the company generated around £7m in revenues.

Company
Founded in 2005, RatedPeople is headquartered in London and currently employs 50 staff. The company generated revenues of £12m in 2013.

RatedPeople operates an online marketplace that connects homeowners with more than 25,000 tradesmen. The platform is designed to allow homeowners to source reliable and high-quality tradesmen for roofing, plumbing, electrical, joinery, decorating and gardening services.

The company claims that more than 2.4 million jobs have been posted on its marketplace since the site's launch. The service is free for homeowners; RatedPeople generates revenues from the subscription fees and transactional revenues from the tradesmen on the site.

People
Chris Havemann is the CEO of RatedPeople. Frog managing partner Mike Reid sits on the company's board of directors.

In conjunction with the capital injection, former Petrofac CEO Keith Roberts has joined RatedPeople's board of directors as a senior non-executive director.

Advisers
Company – N+1 Singer (Corporate finance).

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