Eagle Eye, the martech firm backed and run by former Tesco chiefs Sir Terry Leahy and Tim Mason, has witnessed a 36% growth in group revenue over the past 12 months on the back on major account wins.
The company, which specialises in data-driven digital tech that enables personalised, real-time marketing, has also seen significant revenue growth both in the UK and internationally, driven by the US (+129%) and APAC (+56%), including its first customer in Singapore.
With Asda (pictured) and Morrisons boosting UK income, Canadian department store Hudson’s Bay, Ikea in Taiwan, and the Woolworths Group in Australia are among its new international clients.
Mason, who is chief executive, said: “Eagle Eye’s outstanding performance in FY23 demonstrates we have the right strategy, offering and team in place to support our continued strong growth as an increasingly international business.
“In the current difficult economic environment, retailers are turning more and more to data driven, personalised promotions and rewards as one of the most effective ways to drive increased trade and retain customer loyalty.
“The quality of our team, offering and business model, alongside an expanding market opportunity, provide us with confidence in the continued success and significant long-term growth potential of Eagle Eye.”
The company is also planning to launch an artificial intelligence division, EagleAI, in 2024, building on the January acquisition of Untie Nots, which was founded in 2016 to provide retailers with more effective tools to improve digital promotions and loyalty through gamification.
According to Mason, the development in the field of AI represents an enormous opportunity for the future of scaling Eagle Eye.
He explained: “Recent developments in AI across the retail industry demonstrate that personalisation is going to be easier for all types of retailers globally to adopt, which presents an exciting opportunity for Eagle Eye’s AIR platform.
“Working with some of the biggest and most advanced retailers in the world, we have always worked closely with data analytics firms and, more recently, AI technologies and businesses, which help our client base understand what the next best message to send to each customer is, and when to send it. This personalised marketing is then executed at scale, across all channels, via our AIR platform.
“Internally, we are exploring how AI can be applied to our own internal projects, processes and tools to continue to the run the business in a better, simpler, cheaper way. It is in its early stages, but we believe this will be an important way of reducing toil whilst maximising the time we can spend on innovation and product development.
“We expect AI to be the capability that enables further efficiencies within Eagle Eye which in turn could drive higher margins to allow us to reinvest into the business to support our continued growth.”
Related stories
Morrisons drafts in Tesco expertise for More Card boost
Asda picks Eagle Eye – and Tesco skills – for loyalty trial
Tim Mason hails success as Eagle Eye revenues rocket
Tim Mason reunites with Leahy at digital loyalty firm
