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The Capital Fund backs Innovative Mobile Marketing Solution
Wireless Brand Channel receives £250,000 funding


Wireless Brand Channel Ltd, a digital marketing agency specialising in providing innovative new media channels for brands to communicate with their customers, has raised £250,000 from The Capital Fund, a £50 million venture capital fund which backs fast-growing, small and medium-sized enterprises in Greater London. The first round funding will be used by Wireless Brand Channel to extend its unique Redeemit® service and expand its sales operations.

Wireless Brand Channel combines in-depth marketing knowledge with wireless technologies to devise new ways of targeting customers and recording feedback for high-profile clients including Carling and Diageo.

The company’s Redeemit® service uses a combination of patented SMS ‘matrix’ codes and in-venue scanning hardware to deliver sales promotion vouchers, event tickets and loyalty points directly to mobile phones. SMS ‘matrix’ codes are sent to consumers’ mobiles along with instructions on how to redeem the offer. Consumers are then directed to the relevant venue where there is a Redeemit® unit, a tabletop scanning device which can interpret the SMS codes. By holding the SMS matrix over the Redeemit® unit, consumers receive a printed ticket or bar code which gives them access to the appropriate promotion.

By creating hard copy bar codes or tickets, the Redeemit® product allows for promotions to be seamlessly integrated into existing back end infrastructure. Additionally, the unique matrix codes used in the process are individually identifiable, meaning that all promotions are totally measurable down to the individual consumer level.

Carling is one client that has successfully used the Redeemit® service to combine wireless ticketing and promotion at their high profile Carling Live Music events. Tickets were sent to customers’ mobiles and they scanned their phones over Redeemit® units at the venues to produce paper tickets combining entry to the events with some free drinks.

Andrew Wood, Co-Founder & Managing Director of Wireless Brand Channel, said:
“We create opportunities for brands to communicate more effectively with their target audiences using the most appropriate technology. Our service has already been deployed by a number of major brands and this funding will help us to build on that success and to roll out the Redeemit® network nationwide.”

“The market place for raising capital of less than £1 million is extremely tough, so we are grateful to The Capital Fund for providing the crucial funding we need to grow. The Fund has also provided access to valuable contacts that helped us secure a non-executive director.

“We now plan to expand our network of Redeemit® units and are currently in negotiations to provide Redeemit® to a major telecoms operator and a leading retailer.”

The Capital Fund’s Investment Manager, Stuart Nicol, said:
“There is a huge market opportunity for the delivery of tickets, promotions and loyalty services via mobile devices and Wireless Brand Channel are well-placed to take advantage of it. Their management team has substantial marketing experience, approaching each project from their knowledge of influencing customer behaviour, and are using technology to fulfil a real market need. We wish them success with their expansion plans for Redeemit®, which uses proven hardware and software to assist brand owners in measuring the impact of marketing activities.”

PHOTO AVAILABLE ON REQUEST
Stuart Nicol, Investment Manager at The Capital Fund, congratulates Andrew Wood, Co-Founder & Managing Director of Wireless Brand Channel, watched by Patrick Crosbie, the company’s Operations Director.

NOTES FOR EDITORS
1. THE CAPITAL FUND
Press enquiries to Margaret Henry, Press Manager.
Tel: +44 (0) 1865 811127 or email: m.henry@oxin.co.uk

Launched in 2002, The Capital Fund is a £50 million venture capital fund which backs fast-growing, small and medium-sized enterprises in Greater London. To date the Fund has made 25 in


Publisher Contact Information:

The Capital Fund
+44 (0)1865 811127
m.henry@oxin.co.uk

Company profile of The Capital Fund
Past press releases of The Capital Fund.

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