Funds for Location Intelligence Firm Purple

UK-based location intelligence specialist Purple has raised $7m in a round of funding, which it will use to recruit an additional 100 new staff in the UK, Spain, the US, Singapore and Australia, as well as at new international locations as they open.

Headquartered in Lancashire, Purple provides a solution at retail, hospitality and leisure venues to enable consumers to gain free WiFi access through their social media accounts. This helps the firm gain an understanding of who is visiting and using the hotspot, how long they are online, and their age, gender and any other relevant information they provide; with resulting data used to target consumers with personalised coupons and e-mail campaigns. In addition, the firm's Location tool pinpoints devices, enables heat mapping, and provides zone flow information; while its Fusion solution allows connection to 'any' type of data source, which can then be analysed and action taken.

The new financing includes a $3.9m growth loan from venture capital firm Boost&Co, with the remainder from existing investors. The 100 new recruits will be added to an existing headcount of 90. CEO Gavin Wheeldon (pictured) comments: 'We've had unbelievable growth over the last few years and this latest investment allows us to continue building momentum. Purple is firmly positioned at the forefront of the market as we develop our presence globally'.

Web site: www.purple.ai .