Encore invests £2.5m into Hive Online
Encore Capital has completed a £2.5m strategic investment into Hive Online, a UK technology company that has developed an intelligent promotions platform and infrastructure that helps FMCG brands build direct relationships with their consumers.
The retail environment has changed at the expense of the brands and FMCGs are under increasing pressure to solve the problem of consumer engagement in a cost effective way. Hive has developed a market leading technology that helps solve this problem making it an integral part of the brand marketing infrastructure.
Hive enables FMCGs to print, in real time, unique codes onto product packaging to use as a proof of purchase mechanic. This enables brands to learn more about consumers of their products and develop direct relationships with them, while providing a clear link between promotional activity and sales.
Hive’s clients include blue chips such as PepsiCo, Heineken, Arla Foods and Nestlé, for whom it has helped drive sales growth, in some cases by over 50 per cent year-on-year. It currently delivers in excess of 6 billion codes per annum and the investment will help fuel the growth and expansion of the company, penetrating new markets as well as developing additional product offerings.
“We are very excited about our investment in Hive”, commented Rajesh Shah, a partner at Encore Capital. “With our prior experience in the marketing tech space we will seek to leverage our established network and knowledge in the industry to help Hive maximise its potential. To date, the business has made tremendous progress on limited resources, but it needs capital to fully unlock the market opportunity. Our investment and experience in supporting fast growth companies can act as a catalyst for growth.”
Johnathan Jackson, CEO at Hive commented: “We are delighted to have Encore as a partner in the business. From the beginning, their approach has been very commercial and they have really taken the time to understand our culture, the market and our clients, and share our vision of the future of Hive. We are confident that their experience and contacts will help us accelerate the growth of the business".