Purple secures £10.5m from BGF to scale its venue analytics platform internationally.
The investment from BGF will support global expansion and ongoing product development for the Manchester technology firm.
Manchester-based Purple provides WiFi analytics and digital wayfinding tools that help businesses convert physical venues into intelligent spaces.
North West-based venue analytics provider Purple has secured £10.5m in funding from growth capital investor BGF. The business plans to channel the capital into global expansion and product development, including its newly introduced asset tracking technology.
Founded in 2012, Purple serves a global customer base of over 1,000 organisations across sectors such as hospitality and retail. Its software transforms guest WiFi networks into intelligence gathering tools and digital wayfinding systems.
The investment transaction was overseen by Pinesh Mehta and Courtney Walker on behalf of BGF.
From the founder
"Customer experience has become a key driver across a multitude of sectors in recent years which, in turn, has sparked a wave of digitalisation in order to meet the needs and expectations of end users."
Gavin Wheeldon
CEO at Purple
Investor perspective
"Purple is a highly impressive and fast-growth business that has tapped into a market that is ripe for growth – both domestically and internationally. The team’s appetite for continuous product development perfectly positions them to capitalise on the rise in demand for consumer data and insights, with the entire indoor location services market expected to grow exponentially over the next decade."
Pinesh Mehta
Investor, BGF
Use of funds
- 01Expand into international markets
- 02Continue product development