Purple WiFi, the UK-based WiFi social login and location analytics platform, has raised $5m in funding to accelerate its international expansion. The investment was led by former Tesco CEO Sir Terry Leahy, Bill Currie, Iain MacDonald and Bob Willett from the William Currie Group with participation from Juno Capital, a leading Angel Syndicate.
According to Purple WiFi, the funds will be used to accelerate product development and for staff recruitment to aid global expansion, targeting EMEA, APAC and the Americas. Purple WiFi allows users to gain free access to a public WiFi network through their existing social media accounts including, Facebook, Twitter, Google, Instagram, Weibo and VKontakteor. The user gets access to family friendly WiFi, while the benefit to the business hosting the service (such as a restaurant, hotel, shop, museum, sports stadium or shopping mall) is that they are rewarded with valuable analytic insights into the profiles and movements of their customers and a sophisticated built-in marketing platform.
The company said that investment interest from both the retail and telecoms sectors demonstrates a recognition of the value and potential for WiFi in these verticals; incorporating the future of shopping, showrooming and enhancing customer experiences in-store for retail, and telecoms recognizing the need for valid data offload solutions.