I've launched and established a data and insight tool; to support new business and sales professionals in the UK.
After 5 years of investment in developing the product and sales we have a solid product and over 50 active (paying) customers, including some well known names in the industry. Revenue is projected at circa 150k-200k in 2016.
Funding to date has been through personal investment and helped by my other business, a leading Business Development agency. However, further funding is needed to support product development, marketing and bring in expertise required to drive future growth and achieve objective of 1 million+ sales in 2-3 years.
I've got EIS approval, but initial conversations with fund managers and investors have not progressed, as funding requirement has not been enough to get them excited. It seems 500k is minimum. Whereas personal contacts in my network are falling short of required level of investment.
Any tips on where to find the right investors for up to 250k? Or how to start developing an investor strategy?