READING, England--(BUSINESS WIRE)--Ecrebo, the retail point of sale marketing specialist, today announced a £12 million investment from Sir Keith Mills, founder of Air Miles and Nectar, and Joseph Schull, former head of Europe for international private equity firm Warburg Pincus. Additionally, Ecrebo announced Sir Keith Mills and Joseph Schull will join Ecrebo’s board of directors.
The funding will support increased investment in product and technology development for Ecrebo’s digital marketing platform, and will help to accelerate the retail technology specialist’s global expansion, with a particular focus on North America. This will build on Ecrebo’s success to date in Europe and entry into the U.S. market. The funds will also be used to recruit new talent into Ecrebo’s growing team.
Sir Keith Mills and Joseph Schull join Ecrebo’s board as directors alongside the company’s founders, Dr. Hassan Hajji and David Vernon. Existing investor Octopus Ventures, one of Europe’s largest venture capital teams, is also participating in the investment round and will continue to be represented on the board.
Ecrebo’s innovative technology platform enables retailers to deliver targeted offers and messages to customers at checkout, alongside their print or digital receipt. Since 2010, the Ecrebo platform has processed more than £35 billion in transactions for some of the world’s leading retailers, including M&S, Waitrose and PANDORA and generated more than £500 million in additional sales. The business was recently featured in the 2016 Deloitte UK Technology Fast 50 as one of the UK’s fastest-growing technology companies.
Sir Keith Mills commented: “I am delighted to announce this investment in Ecrebo, who impressed me with their firmly-established credentials and leadership within the retail technology sector. Ecrebo’s technology gives retailers the ability to open up a marketing channel that is fully retailer-owned, enabling them to reach all their customers and engage them on a one-to-one basis in a way which is personalised, rewarding and convenient. I look forward to working closely with the Ecrebo team in the coming months to help them grow the business both in the UK and internationally.”
“Ecrebo’s technology platform is highly differentiated and greatly valued by the company’s world-class customers, who derive demonstrable ROI from it,” said Schull. “Hassan Hajji and his colleagues have developed an ingenious application which seamlessly integrates with customers’ point of sale infrastructure and enables personalized communication at the till, which can be rapidly rolled out at scale. We see considerable growth potential from new and innovative products which are already in development, as well as further geographic expansion to build on the successes achieved to date.”
“We are delighted to secure investment from Sir Keith Mills and Joseph Schull and to welcome them both to our board,” said Dr. Hassan Hajji, co-founder and CEO of Ecrebo. “Their long-standing retail expertise and investment experience will help to further enhance our product offering, recruit the best talent and expand into North America, and beyond. We are excited about the impact this investment will have on our customers, our employees and our technology in helping us to reach our full potential.”
Ecrebo is a point of sale marketing specialist that enables retailers to deliver targeted offers to customers at the till alongside their receipt or digital receipt. With over 90% of transactions occurring in-store, Ecrebo’s POS-based technology opens a marketing channel with unparalleled reach and precision: it enables retailers to deliver targeted marketing communication, specifically tailored to their customers. In turn, customers benefit from getting relevant offers and incentives delivered in a convenient and non-intrusive way. Ecrebo powers point-of-sale marketing for leading brands including Waitrose, M&S and PANDORA.
Click here for full biographies of Sir Keith Mills and Joseph Schull.