Mercia EIS Funds

Mercia Fund Management makes SEIS investment into facial recognition software developer

Mercia's wholly owned subsidiary, Mercia Fund Management (MFM), a national fund management business with a focus on the Midlands, the North and Scotland, has backed Customer Clever Ltd, a facial recognition and biometric marketing technology developer, through an initial £150,000 SEIS funding round.

Customer Clever, which is based in Staffordshire, has developed technology that can help retailers, leisure venues and shopping malls to better understand customers and their habits.

The cloud-based software uses a facial recognition algorithm that can determine the gender, ethnicity, age and time of visit of a customer. In addition, the innovative offering builds and stores accurate profiles of repeat visitors.

Customer Clever Play adds interactivity to the service, delivering tailored video and audio footage across various content platforms, which can target the customer directly.

The development team at Customer Clever are also exploring key extensions to maximise customer benefits and service flexibility. These extensions will include the sending of SMS alarms to managers whenever an underage customer enters the premises, and the monitoring of student attendance in lecture halls.

Rob Johnson, Investment Director at MFM, said:

“We believe the biometrics sector will experience significant growth over the next decade, and Customer Clever is well placed to take first mover advantage with this innovative application within this growth industry and potentially establish a significant market share.

“We look forward to working with the Customer Clever team as we continue to support the company through its growth and development.”

Adam Whitchurch, CEO of Customer Clever, said:

“We are grateful to Mercia for this investment, which will help us to begin initial sales of the product.

“Customer Clever offers an innovative solution to help businesses improve their marketing strategy, whilst providing a tailor-made, unique shopping experience for their customers.”