Sir Terry Leahy Leads £3.3m Investment for Rapid Expansion at Purple WiFi

Manchester business law firm Turner Parkinson has advised Purple WiFi on its latest round of investment.

Former Tesco boss Sir Terry Leahy led the £3.3m investment deal into the Greater Manchester social WiFi company.  Ashton headquartered Purple WiFi says that the multi-million pound investment will accelerate product development, help recruitment and allow the business to expand on a global stage.

Launched in 2012, Purple WiFi provides technology which enables venues such as cafés and bars, to offer free WiFi to customers who endorse them through social media.  In return, the businesses benefit from valuable insights into the movements of their customers and a sophisticated built-in marketing platform.

Following the investment, Sir Terry Leahy, who took Tesco to the third largest retailer in the world, has been appointed a board member along with telecoms and energy entrepreneur Ian Kelly.

The large scale investment from both the retail and telecoms sectors demonstrates a recognition of the value and potential for WiFi.

Purple WiFi’s social media authentication covers a number of social networks, including Facebook, Twitter, Google, Instagram, Weibo and VKontakte and covers 18 languages.

CEO of the company Gavin Wheeldon said: "WiFi is something that is expected, for free, just as we expect access to heat, light and water. But the big question in recent years has been how to monetise WiFi. Purple WiFi has created an innovative low cost solution that gives unprecedented analytics and insights, whilst driving true ROI for businesses. We have seen unimaginable interest and demand for the product, not just within the obvious sectors of retail, leisure and hospitality, but also unexpected sectors such as social housing, education and healthcare, where they want to use WiFi to communicate better and deliver services. I’m absolutely delighted with this new investment and expertise, which will help us accelerate our product feature set and further build out the team that I am already very proud of.”

Sir Terry Leahy said: "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.”

Andrew Sturge commented that “it is a massive compliment to Gavin and his team that such high calibre and experienced individuals were so keen to get involved. I am sure that their combined expertise will further enhance what is an innovative and exciting business.”