Crowdsourcing app maker BeMyEye acquires rival, raises $7M - Mobile World Live

Crowdsourcing app maker BeMyEye acquires rival, raises $7M

19 MAY 2016

UK-based BeMyEye, maker of a crowdsourcing app, raised €6.5 million and acquired competitor LocalEyes, which will give it “access to new customers and a total crowd of 250,000”.

The firm will invest the funds in international growth and product development, doubling the size of its technology development team to offer companies real-time data “with unparalleled reach and precision”.

BeMyEye wants to build Europe’s largest crowd of real world data gatherers (or “eyes”) and connect them with businesses looking for location-specific information, such as checking in-store promotion and prices, generating sales leads or gathering street level data for mapping.

The app uses gamification, offering monetary rewards for those who successfully complete tasks.

Clients include Samsung, Nestle and Coca Cola.

Founded in 2011, BeMyEye has offices in the UK, France, Italy, Germany and Spain.

It claims to have seen a ten-fold increase in revenue over the past two years, and is on track to double its revenue in 2016.

According to Luca Pagano, CEO: “Real world data is a huge blind spot for companies at the moment. Information collected about businesses’ physical locations is often vague, expensive or even impossible to gather. Thanks to the crowd we’re entering a new era of real world data insights from the real world, in real-time, that companies have never had access to before and is enabling unparalleled reach and precision.”

Nauta Capital, P101 and previous investors including 360 Capital Partners participated in the round.

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Saleha Riaz

Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters - creating content, writing blogs and reports as well as conducting feature interviews...More

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