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mSurvey raises $3.5m from TLcom Capital-led Series A round, eyes SA market

mSurvey raises $3.5m from TLcom Capital-led Series A round, eyes SA market

Featured image: mSurvey CEO and co-founder Kenfield Griffith (Supplied)mSurvey CEO and co-founder Kenfield Griffith

Nairobi-based mobile survey platform mSurvey has announced that it raised $3.5-million in Series A round led by venture capital firm TLcom Capital.

mSurvey CEO Kenfield Griffith told Ventureburn the round was concluded in Q1 this year.

Other investors who participated in the round include Net Promoter Score (NPS) co-founder Richard Owen, Golden Palm, Kapor Capital and Social Capital.

mSurvey intends to use the funding to finance expansion into other African countries, and is aiming on launching in South Africa this year

Griffith said the company — which also has offices in San Francisco — is eyeing expansion into South Africa. This after the company recently opened offices in Lagos.

“Our goal is to expand to South Africa in the next six to eight months. Most of the businesses that use mSurvey have operations in these countries so we are expanding to fill that demand and the demand from the markets. We are constantly listening to the market,” he said.

Over the last year, mSurvey has engaged with 12-million consumers and doubled its team. Some of the startup’s clients include include Safaricon, Airtel, CNN, and Harvard.

“mSurvey is the first company to bring increased visibility and understanding of the African consumer, at every touch point and we are using Africa’s most powerful communications tool, the mobile phone, to accomplish this,” Griffith said.

TLcom Capital partner Andreata Muforo, who will be joining mSurvey’s board, said the startup has a “unique business proposition with the potential of scaling quickly and transforming the way African consumers are finally understood and properly served”.

The startup, which was founded in 2012 by Griffith (pictured above) and CTO Louis Majanja, has previously raised seed funding from Alpha Angels, Cross Culture Ventures, and Safaricom’s Spark Venture Fund.

The company’s consumer experience and feedback platform — which uses cloud computing connected directly to mobile network operators — enables businesses and organisations to connect with, and receive structured feedback directly from customers.

mSurvey’s platform does not require an internet connection to get feedback from respondents, and allows users to gather real-time insights via SMS. Some of the company’s flagship offerings include Voice of the Customer, Consumer Wallet and a recently launched customer loyalty management tool NPS.

Read more: TLcom $5m investment two years in the making says Terragon CEO Elo Umeh

 

Source: Ventureburn – 19 April 2018

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