Purple Secures $7m Investment for Global Expansion

1 min read M2M & IoT
Purple has today announced a $7 million investment. This comprises a growth loan secured from Boost&Co, which totals $3.9 million, and additional funds contributed by existing investors.

The investment has been secured following Purple’s global traction with major service providers, a series of large customer wins and huge growth in platform usage. Purple now boasts 18 million users, with deployments in 73 countries.

The funds will be used to recruit in excess of 100 new staff at existing locations, including offices in the UK, Spain, the US, Singapore and Australia; and more international locations as they open. The recruitment drive will bring in talented development and sales employees who will play an integral part in Purple's success globally, and also strengthening all departments within the Company.

Purple is a leader in real-time analytics and marketing for venues and businesses that want to engage with visitors and understand the use of physical spaces.

Through the process of creating ‘Intelligent Spaces’, Purple can help brands to learn more about their location and customer base, and help them to take action.

Gavin Wheeldon, CEO at Purple, comments: “We've had unbelievable growth over the last few years and this latest investment allows us to continue building momentum. Our platform has now accelerated past 18 million users and the opportunity for physical spaces to lead in analytics and personalised engagement is huge. Purple is firmly positioned at the forefront of that market as we develop our presence globally.”