Eagle Eye, a leading SaaS technology company that creates digital connections enabling personalised, real-time marketing, has released its audited results for the financial year ended 30 June 2023 (the “Year”), showcasing 36% group revenue growth, and significant international revenue expansion driven by the US (+129%) and APAC (+56%), including its first customer in Singapore.
The company has also seen continued expansion of the customer base, adding Morrisons in the UK, Hudson’s Bay, an iconic Canadian department store brand, IKEA in Taiwan, and expansions with Asda in the UK and Woolworths Group in Australia.
Tim Mason, Chief Executive of Eagle Eye, 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.
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“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. Eagle Eye’s central position as the technology that enables the execution of these programmes means we are becoming increasingly relevant, providing further growth opportunities.
“We have entered FY24 in a strong position with considerable momentum across the Group. We are particularly excited by the opportunity for EagleAI, our new AI offering launching in 2024, building on the capabilities brought into the Group with the acquisition of Untie Nots.
“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.”
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AI presents an additional market opportunity
According to Mason, the development in the field of AI represents an enormous opportunity for the future of scaling Eagle Eye, where the company sees three tangible areas for progression:
- a) Continuing to be the leading enabler of advanced analytics and AI
- b) Launching a new AI-powered offering for retailers globally – EagleAI
- c) Using AI to enhance our tech stack and development capabilities
“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,” he says.
“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.”
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