Ecrebo, the personalised customer engagement platform, has today announced a £4m funding round from venture capital investors Octopus Investments.
Ecrebo’s technology extends the functionality of existing retail point of sale (POS) systems to give bricks and mortar retailers the tools to engage with their in-store customers on a personal level. Until now, the tools available to bricks and mortar retailers have lagged many years behind those available to online retailers, the company claims.
Ecrebo said it unlocks the potential of in-store customer engagement, giving 100% customer reach and bridging the in-store and online worlds seamlessly. Ecrebo already has significant high street traction and works with high profile retailers such as Marks & Spencer and Shell. To date, Ecrebo has processed over two billion transactions and has delivered over 300m customer engagements through in-store and digital channels.
The £4m Series A funding round comes two years after an initial £1.2m friends and family seed round. This finance will be used to support Ecrebo as the company builds scale, not only in the UK, but also the US.
Founded in 2010 by Hassan Hajji and David Vernon, the company has attracted a number of high profile retailers who leverage the Ecrebo platform to build a deep understanding of customers and deliver personalised engagement across multiple channels.
Hajji, CEO and co-founder of Ecrebo, said: “We know that over 80% of retail flows through bricks and mortar stores. Helping retailers understand and engage these in-store customers is an exciting opportunity, and Ecrebo is well positioned to deliver on this.”
David Vernon, COO and co-founder, said: “Ecrebo have gained traction quickly in the UK and are poised to grow rapidly over the next 12 months. We’re excited to work with Octopus who have the experience to help us take the solution to international markets.”
Frederic Lardieg, a member of the ventures team at Octopus, said: “At Octopus we’re always on the look out for inspirational entrepreneurs building on fantastic ideas, and we’ve found that with David, Hassan and their team. The numbers speak for themselves as to how this business has grown in just a few years, and we’re looking forward to working with the team as this product continues to develop and appeal to more retailers in more markets.”