NAIROBI, Kenya, Apr 24 – Mobile-first consumer feedback platform, mSurvey, has announced a Series A round of $3.5m (Sh350m) 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 follows Seed Investment rounds from Cross Culture Ventures, Alpha Angels and Safaricom’s Spark Venture Fund.
The investment will enable the company continues building out its infrastructure and partnerships, in order to scale and expand into more African countries.
The Nairobi-based company recently opened an office in Nigeria.
“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 of more two-way conversations can take place each year,” said Kenfield Griffith, mSurvey co-founder and CEO.
mSurvey allows businesses to develop in-depth understanding of the African consumer, gathering real-time insights via mobile SMS conversations.
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.
“mSurvey is enabling the supply side of the vast underserved consumer markets in Africa to have a much better understanding of their customers. 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,” said Andreata Muforo, Partner at TLcom Capital, who is joining the board of mSurvey.
TLcom Capital has a diverse team with backgrounds in investment, entrepreneurship, and government, with a unique focus on Africa.
The firm is the only African VC firm that has achieved significant exits in the African technology space so far, with an unparalleled track record in selecting African pioneering companies such as Andela and Terragon.