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PRIVACY
Tech

Boss of Bristol company that switched to four-day week secures 拢1.2m in funding

Luke Sartain is the founder of a number of technology businesses including digital marketing agency upUgo

Luke Sartain is a Bristol-based entrepreneur who runs a number of media and tech businesses(Image: upUgo and GoRank)

A Bristol-based entrepreneur who runs a group of technology companies including one that switched to a four-day week has secured £1.2m in funding.

Narwhal Media Group (NMG), which is owned by businessman Luke Sartain and is based at Temple Meads, operates a number of firms, including:

  • upUgo – a digital marketing agency providing services including SEO;

  • Lasso Leads – a data analytics and lead generation business;

  • GoRank – a white label marketing product for businesses.

Mr Sartain's company upUgo is based in Stokes Croft and moved all its without reducing pay or holiday in 2020.

Last year, entrepreneur Imran Hakima - a former contestant on Dragons’ Den - invested £575,000 in Mr Sartain’s group of companies, which is now valued at £18.2m.

Some of the upUgo team before the coronavirus pandemic(Image: Upugo)

The proceeds of the latest fundraise - a pre-Series A round - will be used to expand the company’s sales function, continue investment in software R&D, and provide working capital for the group’s continued expansion, NMG said.

Investors in the round included Robin Saunders of Clearbrook Capital; Elio Leoni Sketi from LSG Holdings; and Bodil Blain, the founder of CRU Kafe.

According to NMG, it is planning to raise further funds later in 2022 and is targeting a £200m valuation by 2024. As part of its expansion plans, the business also expects to create jobs across the Bristol region, it said.

Mr Sartain said: “This investment round will allow each of our businesses to push on to the next level of growth and so further realise the value in NMG and our IP.