Venture capital firms Samos and Venrex are leading the equity investment, while angels including Betfair founder Ed Wray will are also taking part.
The London-based business operates in the social media marketing technology market and provides tools which allow brands, marketers and SMEs to create and control loyalty-led marketing campaigns.
Its products include Social Rocket, which allows businesses to create campaigns on Facebook and Footfall toolbox. Its services are currently being used by Greene King, L’Oreal and Byron Hamburgers restaurants.
Ben Chesser, founder of Footfall 123, says that the business has ‘grown significantly’ in the past 12 months.
He adds. ‘We have established an excellent team of 19 in London alongside our satellite office in Spain and are growing internationally, so securing funding now is the right time in order to take the business to the next level.’
‘In addition to securing funding, we are also particularly please to be working with such an impressive selection of funders and angel investors who have exemplary understanding of the tech start-up ecosystem and can provide invaluable advice and support.’
Samos Investments is a private equity investor which backs companies across sectors including financial services, retail digital media and e-commerce.
Private investment firm Venrex concentrates on identifying start-ups and growth companies with ‘well-defined market demand’ and management teams that exhibit high growth and profit potential, according to a statement.
Shan Drummond, partner at Samos, comments, ‘We specialise in identifying fast-growth companies that are making waves in the technology sector, and that’s why we were attracted to Footfall123. Their existing client base is impressive, and no doubt they will be working with more household names in the future.’
Joining Ed Wray as an angel backer of Footfall 123 is Adrian Lloyd. He says, ‘I have been impressed with the team, customer traction and the growth of Footfall123 since its launch, and am pleased to be working with them as they embark on a journey of international growth.’
Two of the other angel investors are Frank Bury and Hugh Fitzwilliam-lay of Bury Fitzwilliam-lay and Partners (BFLAP). Their previous investments include Bango, Servicepower Technology and Domainex.