Case Study - We Are Digital

we are digital side

Summary:

We Are Digital (formerly Silver Training) launched in 2012 and is one of the UK’s leading digital and financial inclusion training providers to councils, housing associations, charities, corporates and the general public. After taking over responsibility for Digital Unite’s tutor network in October 2015, we now have the largest centrally controlled network of tutors in the UK and are a major provider of digital and financial inclusion support to over 60 housing associations.

Challenges Faced and the Need for a Solution:

Training imageWe Are Digital (formerly Silver Training) launched in 2012 and is one of the UK’s leading digital and financial inclusion training providers to councils, housing associations, charities, corporates and the general public. After taking over responsibility for Digital Unite’s tutor network in October 2015, we now have the largest centrally controlled network of tutors in the UK and are a major provider of digital and financial inclusion support to over 60 housing associations.

We provide digital and financial training support both in the home, on a one-to-one basis, and in group settings at any location around the UK. We have tutors in 40 locations, each covering a radius of 20 miles from their home, and teach from a library of over 30 topic modules. We have trained learners from age 6 to 96 years old. For housing associations we deliver digital inclusion training to young residents, 18-60 working age and sheltered housing (60+).

Why Midven?

Midven were respected locally in the Midlands and had good ties with Warwick Technology Park, where we are based. We had also heard through Minerva that Midven were able to match the offer of private Minerva angels, if they were interested, which allowed us to reach our funding goal much more quickly. Furthermore it is also prestigious to have a local VC fund backing your business.

We are digitalHow Midven Helped:

The process took about 6 months from start to finish – from September 2015 to March 2016. This was not so much because of the Midven process, but because our founder, Matthew Adam, needed to pitch to multiple groups of investors across the Midlands in order to find those most interested in investing and working alongside Midven. Ultimately we brought on board two new investors, Mark Jones and Neil Anderson, who joined Aanisah from Midven on our board. Aanisah and Duncan from Midven were very helpful in structuring our funding process and getting all the paperwork in order such as budgets, forecasts, etc. There was a lot to prepare (!) but it made us more professional and ambitious when looking to the future.

The Results:

Since Midven has come on board the business has grown very quickly. We have tripled month on month revenue since last year (2015), are just breaking into profitability – and annual turnover this year (to July 16) has more than doubled compared to the previous year. For a company that had around 3-4 employees in a tiny office when Midven first got involved, to now be hiring our 10th employee only a year later, and closing in on £0.5m turnover, is testament to the effect the investment and board have had on the business. Furthermore, we have recently been approved on the Government’s Digital Training and Support framework, a £35m framework of 54 approved suppliers providing digital skills and assisted digital support for UK adults using digital by default services.

Matthew AdamQuote:

“I would recommend to any founder to go out and get VC or angel funding as soon as you can, rather than waiting. Every small business needs a supporting hand and this comes in the form of not only a monetary investment but also the expertise that is added to your board. We wouldn’t have ramped up to our current size this quickly without either of those. Looking back I don’t know why I waited so long as a quasi-lifestyle business before making that jump!”

Matthew Adam Managing Director We Are Digital

For more info about We Are Digital visit www.we-are-digital.co.uk

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