Kenyan SaaS mobile-first consumer feedback company, mSurvey, has today announced a Series A round of $3.5million, led by Africa focused venture firm TLcom Capital with investment from Social Capital, Kapor Capital, Golden Palm, and Richard Owen; founding team of Net Promoter Score (NPS).
This funding follows Seed Investment rounds from Cross Culture Ventures, Alpha Angels and Safaricom’s Spark Venture Fund, and will supposedly enable the company to continue building out its infrastructure and partnerships, in order to scale and expand into more African countries.
Commenting on today’s announcement, Kenfield Griffith, mSurvey co-founder and CEO said, “Completing our Series A round allows us to tackle this difficult, yet enormous opportunity that exists in connecting African consumers with businesses to develop trust, and ensuring that millions more two-way conversations can take place each year. African consumers will be spending $2.1 trillion a year on consumer goods by 2025, a growth rate of at 4.5%. We see mSurvey as a strategic partner for thousands of companies who are part of this growth trajectory.”
Launched in 2012, mSurvey consumer experience and feedback platform leverages SMS and mobile messaging technology to simplify access to credible, on-demand data from Africa and other emerging regions.
Just recently, mSurvey setup office in Lagos, Nigeria, where it hopes to continue fostering in-depth understanding into the African consumer, gathering real-time insights via mobile SMS conversations with its Voice of the Customer and Consumer Wallet products, as well as through its successful launch of Net Promoter Score [NPS] in Africa.
Last year alone, the company conducted over 12 million conversations with consumers on the continent and works with businesses such as Commercial Bank of Africa, Kenya Commercial Bank, Safaricom, Airtel, Java House, Liberty Insurance, and Britam as well as US-based companies and institutions including Harvard, Emory and CNN.
The partnerships with leading mobile network operators will afford mSurvey a somewhat comprehensively map and customer journey through every single touchpoint, allowing businesses to identify any weak spots that exist within their product or service delivery, directly from the source; the customer.
Have a digital technology solution for health, cyber-crime, Oil and Gas? Join the 2020 Nigeria Oil and Gas Hackathon. Submit your innovation at www.nogtech.ng.
Techpoint Build 2020 is holding virtually in August. Register free now to attend.
Nigerian startups raised $55.4m in Q1 2020; over 99% of which came from foreign sources. Find out more when you download the full report.