“Point and Shoot” Mobile Commerce Provider Mobile Acuity Secures Funding – Significant investment to fund growth in U.S. and East Asian markets
Edinburgh, UK 24 January 2012: Mobile Acuity, a leading technology company enabling interactive brand marketing campaigns using its Visual Interactivity™ platform, today announces that it has secured a significant equity investment to expand the company’s operations into the U.S. and East Asian markets.
The investment comes from bieMEDIA, a U.S.-based online marketing and media solutions company, and Scottish-based business angel network fronted by Steven Morris and the University of Edinburgh. This transaction quickly follows Mobile Acuity’s announcement that leading global retailer Tesco PLC is deploying its technologies, which includes a trial of mobile visual search, the company’s revolutionary image-based search application that enables “point and shoot” mobile commerce (m-commerce).
The use of “Point and Shoot” is the latest in mobile marketing and m-commerce. Unlike QR Codes or other image-capture search technologies that have limitations for real engagement, point and shoot m-commerce gives consumers convenience and flexibility. With Mobile Acuity, consumers can point a Smartphone at a product or image of a product in an advertisement, shoot a picture and receive all the information, and even make purchases, anytime and anywhere.
Chris Wade, Executive Chairman at Mobile Acuity comments: “This round is particularly exciting for our company and our shareholders as it allows our company to expand into the U.S. market with a key strategic sales distribution partner whilst simultaneously diversifying our award-winning mobile visual search technologies into other vertical markets.” Wade continues: “Importantly, the inward investment into the Scottish economy will also allow us to continue to grow and invest in local skills and resources.”
Jon Barocas, CEO at bieMEDIA commented: “Our strategic investment in Mobile Acuity demonstrates our commitment to revolutionizing the way our clients and consumers interact by offering compelling web, video and mobile commerce experiences and opportunities.”
For the past 20 years, bieMEDIA has revolutionized its client’s brands online. Headquartered in Denver, Colorado, with offices in New York and Paris, the online marketing and media solutions company is a single-source partner for the delivery of every online marketing solution necessary for businesses to be successful in today’s rapidly evolving digital landscape. With its full suite of turn-key solutions for video, web and mobile production, distribution, hosting/CDN, video platform technology, metrics and performance analytics, website creation, mobile websites, social forum profile fulfillments and account management system solutions, bieMEDIA is continuously innovating and driving real engagement opportunities and maximum impact for its clients. For more information, visit www.biemedia.com.
About Steven Morris
Steven Morris is a successful technology innovator, strategist and business leader having driven innovative ideas from inception to commercialisation on multiple occasions. As a founder of profitable high-growth technology development and manufacturing businesses he has delivered technology, raised funds, grown businesses and achieved successful exits for investors. As an experienced executive he has operated as CEO, CMO & COO, in both early stage and medium sized companies. In these roles he has managed the transition, divesting and restructuring following acquisition. His internationally proven leadership and innovation spans cutting-edge research, development and commercialisation. These leadership qualities are combined with his capabilities to protect, generate and manage IP to maximise retained value within the business.
About Mobile Acuity
Mobile Acuity is a technology company enabling Mobile Visual Search applications for retailers and interactive campaigns using Visual Interactivity™ for brands and agencies. Working with leading digital agencies across Europe and North America, Mobile Acuity has used its mobile visual search technology to create engaging and award winning mobile applications for brands including Disney, Nike, Adidas, Pepsi, Lynx and Vodafone. The company also licenses its mobile visual search platform to customers such as leading mobile price comparison company Scope and leading digital media delivery company 7Digital, enabling them to add visual search capabilities to their own products.
For more information visit www.mobileacuity.com