MCADO listed on SyndicateRoom after reaching its target from an angel syndicate of industry heavyweights, making it SyndicateRoom’s first lift round. The company went on to raise £982,997 – 131% of its original target – which will enable MCADO to service its rapidly growing customer demand and prepare for a favourable Series A valuation.
MCADO is lead by John Cushing, one of the UK’s youngest company directors, and Rod Brown, who worked with Tesco to develop service innovations. Inspired by the success of platforms like AirBnB, the two joined forces in 2010 to disrupt the the services industry. The web-based platform, called Opun, helps people find, negotiate, track and pay skilled, accredited tradespeople for their home improvements needs. Uniquely, both labour and parts provided by the Opun team come with a 5 year guarantee. With as many as 58% of UK homeowners currently at a loss by who to turn to for home improvements, MCADO meets a demand that exceeds supply by 10:1.
Lead investors in this round included investment veterans David Turnbull and Will Chawner, amongst others.
Click here to learn more about lift rounds.
Where are they now?
Its first quarter of trade has been very promising with revenues already surpassing £200,000.
MCADO has already been featured in TechCity News and Property Eye, and was a finalist for an award with London Innovators Network and the national 2015 eCommerce Awards. The company is also an IBM Global Innovation Partner.
MCADO has now rebranded itself as Opun – its new site can be found here.
See current opportunities