SUG Talks: Scaling to Selling a SaaS Business

We’re excited to launch this series of SUG Talks between our Executive Chairman and Founder, John O’Connell and successful entrepreneurs (many of whom have become our esteemed ScaleUp Group partners) who have founded, grown and successfully exited their companies. In case you’re new to us, ScaleUp Group helps B2B SaaS businesses secure Series A funding on the best terms, from the right investment partner for the best results. Our 37+ entrepreneurial partners act as our client’s virtual advisory board, with their investment, advice and introductions.

We hope you enjoy these inspiring stories, lessons learned (& shared), and advice that shine through the conversations.

Matthew Elson, CEO, Evotix:
Acquired a business for a £1 and sold it for more than £100 million!

Matthew Elson acquired Evotix (a health, safety and sustainability SaaS business) in 2011 and sold the business in 2023. He remains CEO, where he has led the company through commercial dispute, going from 10 to 150 staff, international expansion, growth funding, pricing strategies and much more. Today, Evotix is the leading player in its space in the UK and Ireland.

Throughout this incredible journey, Matthew notes one of the keys to success is, “building up that network of external advisors and supporters for the business. Your job as CEO, as the entrepreneur is to take the decisions, you don’t always have to take the advice, but it’s always good to listen to the advice and consider it carefully. Frankly the external support and advice that we’ve had along the way has been absolutely invaluable to the success of the business.”

Frank Reeves, former Co-Founder and CEO, Avvio:
Insights on AI, Empowerment, and Resilience

Our first guest – Frank Reeves, a distinguished entrepreneur and innovator in the travel technology sector, best known for his role as the co-founder and CEO of the bootstrapped travel tech firm,, from 2002 to 2022.

Frank has a powerful story and some memorable points emerged from their conversation, which every self-respecting tech entrepreneur should heed.

Frank recalls one of his biggest go-to-market initiatives, which reminds us that aligning your proposition directly with your clients is paramount, “we just bravely went into the market and said, look, this is what working with us means, right? Everyone’s got great technology, that’s fine. But when you boil it all down, working with Avvio means that you get at least 25% growth in your direct channel, which is your most cost-effective booking channel, and that then is tied directly to a PNL impact. So that was a very differentiated go-to-market strategy – talking about business outcomes rather than how great we were as a company and how great our tech was. That really resonated in the market. We worried, of course, that some competitors would follow us into that value prop. But none ever did, which was wonderful.”

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