British startup Purple WiFi has announced that they have pulled in $5 million in new funding from investors like private investors Sir Terry Leahy, Bill Currie, Iain McDonald, and Bob Willett from the William Currie Group, as well as Juno Capital. Leahy, who formally worked as CEO at retail giant Tesco, joins the company’s board as part of the deal.
The company announced last year that it is making a push to move in to the Asia-Pacific region and says that this latest round will continue this expansion.
Purple WiFi is a service that aims to help businesses establish free, public WiFi hotspots in exchange for data on customers. The service works by allowing businesses to set-up the hotspot, which can subsequently be accessed by customers through various social-media accounts or a short form. Thus, the customers get the WiFi and the businesses are offered access to information about their customers, data which will ostensibly allow the businesses to make more informed marketing decisions.
The platform is currently integrated with services like Facebook, Twitter, Google, Instagram, Weibo, and Vkontakte and the company reports that the login and analytics platforms are localized in 18 languages.