Kenya’s mSurvey secures $3.5 million in funding led by TLCom Capital
mSurvey, a Kenyan start-up that gathers customer feedback for clients via the mobile phone, has secured $3.5 million investment from TLCom Capital, reports Reuters.
The funding, led by TLCom Capital with investment from Social Capital, Kapor Capital and Golden Palm, which is expected to boost the company’s expansion plans across Africa, follows seed investment rounds from Cross Culture Ventures, Alpha Angels and Safaricom’s Spark Venture Fund.
Kenfield Griffith, mSurvey’s co-founder and CEO told Reuters in an interview that the company plans “to use the funds to expand to Nigeria, where we have just opened an office,” adding that “South Africa will launch within the next six to eight months.”
Since its launch in 2012, the company has been helping businesses better understand consumers in Africa with its stellar products, Voice of the Customer and Consumer Wallet.
It has worked with brands such as Safaricom, Java House Africa, Chloride Exide, KCB (Kenya Commercial Bank), Britam Insurance, Digicel, etc with more over 13 million engagements in mobile conversations since its inception.
mSurvey was born out Griffith’s own encounter with several stumbling blocks as he searched for data in emerging markets while studying for his PhD in MIT.
As a result, he co-founded the company alongside CTO, Louis Majanja in Nairobi, Kenya to simplify access to quality consumer data from communities that were initially hard to reach.
[via: Reuters]
