mSurvey secures $3.5 million series A Investment to deepen African expansion
This follows Seed Investment rounds from Cross Culture Ventures, Alpha Angels and Safaricom’s Spark Venture Fund and will enable the company to continue building out its infrastructure and partnerships for expansion.
Headquartered in Nairobi, Kenya, and with a recently launched office in Lagos, Nigeria, mSurvey leads the way in developing 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.
With over 66% of Africa’s economic activity takes place in the informal sector, making it challenging for any business to understand who their customer really is, and hindering the analysis of feedback, mSurvey has been able to 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.
Commenting on the secured funds, Dr. Kenfield Griffith, mSurvey co-founder and CEO says, “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.”