Asoko Insights last week reportedly announced the completion of its $3.6 million Series A funding round, to carry on with its pan-African expansion plans.
The integrated, Africa-focused market research platform says it plans to use the new funding to deepen its product offering to compliance professionals, expand its African footprint and build on its technology to support scaling data collection, analysis, and delivery.
“The fund will allow us to do more and at a much faster pace. In the twelve months, we’ll ramp up our company coverage from 11,000 to well over 100,000, introduce a wide set of new platforms features and scale-up our technology to enhance the analysis and delivery of our data. In doing so, we are prioritising the business development and compliance needs of our global user-base,” says Rob Withagen, Co-founder/CEO Asoko Insight.
Launched in 2014, Asoko Insight operates through research bases in Accra, Lagos, Nairobi, Addis Ababa and Abidjan, collecting and analysing company information through channels such as technology, partnerships and teams of research analysts and data services personnel.
The new fundraising followed a strong 2017 for the company in which both the number of companies and countries covered doubled and global players including Goldman Sachs, UBS, HB Fuller and Deloitte subscribed to its platform.