mSurvey, the mobile-first consumer feedback platform for businesses and consumers in Africa, announced a Series A round of USD$3.5m, 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).
The investment will enable the company to continue building out its infrastructure and partnerships, in order to scale and expand into more African countries.
Through partnerships with leading mobile network operators such as Kenya’s Safaricom, mSurvey is able to comprehensively map a customer’s 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. For example, Chloride Exide, an energy company in East Africa, can now map their customer journey via 5 touch points allowing them to understand and improve efficiencies and this has resulted in 800% growth.
Large corporates and SMEs desperately need more data on the African consumer to serve a growing demand that is only reachable via the mobile platform.
In 2017 the company conducted over 12 million conversations with consumers on the continent and worked 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.
mSurvey gathers 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.
“mSurvey is enabling the supply side of the vast underserved consumer markets in Africa to have a much better understanding of their customers,” said Andreata Muforo, Partner at TLcom Capital, who is joining the board of mSurvey.
“Large corporates and SMEs desperately need more data on the African consumer to serve a growing demand that is only reachable via the mobile platform. This is a unique business proposition with the potential of scaling quickly and transforming the way African consumers are finally understood and properly served.”
Leveraging the continent’s post powerful communication tool, the mobile phone, mSurvey allows businesses of any size to engage with their audience and develop a stronger relationship with their audience. The mobile phone is the single most powerful technology which has the potential scale and power to normalise access – giving consumers on the continent the power of choice and businesses the power of knowing; building trusted relationships between businesses and consumers.
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