Online grocery comparison website mySupermarket has received $10m of new investment, the biggest chunk of which comes from a new backer - global communications giant WPP Digital.
James Foord, VP of business development for mySupermarket, told The Grocer that the investment, which has also come from its owners Greylock Partners and Pitango Venture Capital, would enable it accelerate plans for overseas expansion, develop its mobile offer and roll out the brand store concept debuted in February.
As well as the UK operation, the business has a presence in Israel and Japan, and Foord said that launching in the US this year was a major priority. “We are really keen to explore attractive global markets,” he said.
The money would allow mySupermarket to invest in recruitment of key technical staff and software engineers enabiling it to bring concepts to fruition more quickly and efficiently. These included its brand stores, through which consumers can access promotional offers and marketing information on brands. The first wave of these included mini sites for Nivea, Activia and Kellogg’s. It will launch stores for Reckitt Benckiser, Birds Eye and Walkers crisps in the next few months.
The business will also look into the possibility of its own TV advertising for the first time. “Once people find us and use the site, they tend to stick with it,” said Foord. “But up until now we have largely worked on word of mouth. Creating our own advertising would be a big step forward.”