Eagle Eye Solutions, which specializes in mobile voucher issue and redemption technology for retailers, has secured £1.5m in a Series A round of funding. Sir Terry Leahy, the former chief executive of Tesco, and City retail analysts, Bill Currie and Iain McDonald, led the financing. Eagle Eye says it will use the funds to further expand its team, and consolidate and grow its retail partnerships.

Sir Terry Leahy, best known for overseeing Tesco’s rise to prominence within the grocery retail business, and the original brains behind the Tesco Clubcard, is already taking an active role in the company, making a number of introductions with senior level contacts in the retail space. Currie and McDonald, who have successfully invested in a number of consumer-facing businesses, including The Hut Group, Metapack, ASOS and Zooplus will be using their eCommerce expertise to help guide Eagle Eye’s business strategy.

“This is an exciting time to get on board with Eagle Eye Solutions, which has expanded its retail partnerships rapidly in recent months,” says Sir Terry. “The retail industry is waking up to the huge opportunities that mobile marketing represents, and mobile coupons are a vital component. Eagle Eye is leading the way in this field and I look forward to playing a part in its positive impact on the market. ”

Eagle Eye notes that the key to any digital voucher is the ability to redeem simply and securely, in real time and with the ability to track customer usage, adding that it delivers that vision today for retailers, using the Chip and PIN terminal, and without any requirement for a huge upgrade of retail/EPoS systems. It is already working with a number of high profile retailers, including Comet, Aurora Fashions, Blockbuster and Virgin Active.