Purple WiFi, the UK-based WiFi social login and location analytics platform, has secured $5m in new funding. The funding will aid the company’s plans for rapid global expansion.
The $5m funding was led by Sir Terry Leahy, Bill Currie, Iain MacDonald and Bob Willett from the William Currie Group, with participation from Juno Capital.
Targeting rapid expansion, the round of funding was complimented by the appointment of new board members. Ex-Tesco CEO Sir Terry Leahy and telecoms entrepreneur Ian Kelly were amongst those who joined Purple WiFi’s board.
Sir Terry Leahy, former Tesco CEO, commented: "Having been in the retail space for many years, I have seen how technology has and will continue to revolutionise the industry."
"Purple WiFi is a brilliant example of how additional value can be driven from an existing infrastructure. I’ve been incredibly impressed with what Gavin and the team have achieved to date. I very much look forward to helping them drive global expansion and adoption."
The investment and interest from both retail and telecoms sectors indicates 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 recognising the need for valid data offload solutions.
Boasting tech partnerships with the likes of Cisco and BT, Purple WiFi enables users to gain free access to a public WiFi network through their existing social media accounts or a short form.
The company’s Purple WiFi’s social media authentication covers an extensive number of global social networks, including Facebook, Twitter, Google and Instagram, with Chinese Weibo and Russian VKontakte reportedly coming soon.
