Partner Article

All go for Guroo

An online learning company has doubled its workforce and is aiming for a multi-million pound turnover within three years after securing more than £400,000 of investment.

Entrepreneur Jonathan Wells, managing director of Sunderland-based Guroo, is urging technology companies to sign up to a major investment conference organised by CONNECT North East on April 28 following his success at last year’s conference.

The event led to Mr Wells securing a funding deal worth £440,000 with NorthStar Equity Investors which has enabled him to double his workforce to six, developing a dedicated sales team to market the company’s online learning packages for 14-19 year old students to local authorities, schools and colleges, and expand the learning content on offer.

Guroo, based in Houghton-le-Spring, is expecting to exceed turnover of £250,000 this year and more than £4m by 2011.

Mr Wells is urging other companies to sign up for CONNECT North East’s Secure Futures Investment Conference so that they can find the funding they need to grow.

“We came to the attention of NorthStar thanks to the CONNECT North East conference,” said Mr Wells.

“It enabled us to pitch to 150 potential investors and sell ourselves and it really paid off. It has given us the opportunity to take the business forward and that wouldn’t have been possible without the funding.

“Now we’re looking to become the market leader in online learning resource packages.”

As well as looking for nine technology companies to pitch for between £250,000 and £1m, the security-themed investment conference will provide a key networking opportunity for companies working in the security industry, with delegates from Government, private and public sectors.

For more information on CONNECT North East and the investment conference log onto www.connectnortheast.com.

This was posted in Bdaily's Members' News section by Ruth Mitchell .