Eagle Eye Solutions, a market leader in mobile voucher issue and redemption technology for retailers, has secured £1.5m in funding from a group led by former Tesco chief executive, Sir Terry Leahy.
Sir Terry, who is reported to be taking an active role in the company by making a number of introductions with senior level contacts in the retail sector, invested in the company alongside City retail analysts Bill Currie and Iain McDonald,
Currie and McDonald have a track record of successfully investing in consumer facing businesses including The Hut Group, Metapack, ASOS, QXL Ricardo and Zooplus, and will be using their expertise in e-commerce to help guide Eagle Eye’s business strategy.
“This funding will enable Eagle Eye to further expand its team, and consolidate and grow its retail partnerships, further establishing the company as the forerunner in digitally redeemed mobile coupons and gift vouchers,” said Sir Terry.
“This is an exciting time to get on board with Eagle Eye Solutions, which has expanded its retail partnerships rapidly in recent months. The retail industry is waking up to the huge opportunities that mobile marketing represents and mobile coupons are a vital component. Eagle Eye is leading the way in this field and I look forward to playing a part in its positive impact on the market, ” he said.
Steve Rothwell, CEO, Eagle Eye Solutions, said: “We are delighted to have secured the backing of such experienced and high profile figures within the industry. Our technology empowers retailers with physical stores to use digital marketing techniques that have worked so well online in the last 15 years. This funding round will enable us to accelerate our progress and sign up more retailers more quickly than we could organically.”
Eagle Eye is already working with a number of high profile retailers, including Comet, Aurora Fashions, Blockbuster and Virgin Active.