Kenyan SaaS Mobile Consumer Feedback Company mSurvey has 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 funding, announced today follows Seed Investment rounds from Cross Culture Ventures, Alpha Angels and Safaricom’s Spark Venture Fund. The company says the investment will enable it to continue building out its infrastructure and partnerships, in order to scale and expand into more African countries.
Commenting on today’s announcement, Dr. Kenfield Griffith, mSurvey co-founder and CEO said, “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.”
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.
Last year alone, the company conducted over 12M 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.
Launched in 2012, with the mission to simplify access to high-quality data from hard-to-reach communities, mSurvey has brought hidden and offline voices into the global conversation, via in-depth, mobile phone conversations
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.