South African Marketing Platform Mobiz has raised USD 1mn in funding from Kalon Ventures Partners.
The South African venture capital firm in a press release confirmed its investment in the SmartSMS marketing engagement platform.
Kalon Ventures Platform also expressed resolve to continue to invest in promising startups despite the tough times ushered in by the COVID-19 pandemic.
Mobiz was co-founded by CEO, Greg Chen, and CTO, Clark Lin. The startup has several blue-chip, JSE-listed companies among its clientele. The mobile marketing platform, which operates on a SAAS model, helps clients to cost-effectively improve their customer engagement.
Mobiz claims to offer a highly-personalized and targeted service to create and enhance customer relationships and increase brand loyalty. The startup says it gathers customer behavioral insights to enrich CRM systems or automate follow-up engagements.
The investment from Kalon Ventures Partners will help Mobiz expand its operations as it looks to penetrate the European and US markets.
Mobiz also claims that its numbers reflect a 400 percent improved customer engagement rate with 98 percent open rates and an average of 15 percent click-through rates in comparison with traditional marketing channels like printed catalogues, paid ads, etc
Also, the startup claims to have maintained this upward growth trajectory even during the run-up to, and early parts of, the COVID-19-enforced lockdown in South Africa.
Co-founder, Chen said, “It’s no longer enough for brands to tell people why they matter. In today’s world of IoT, brands have to prove why they matter to each one of their customers.
“Mobiz believes that personalization goes beyond your customer’s name and date of birth. With Mobiz you can ensure that your customer experience will be engaging, relevant and appealing,” says Chen.
Both Chen and Clark have been involved in the mobile technology space since 2005. Kalon Venture Partners says it was impressed by their track record and this was one of the factors that spurred the investment.
Kalon Venture Partners CEO, Clive Butkow said, “Kalon’s team were impressed with the founders Greg and Clark. We believe they exhibit the exceptional traits we look for when investing in the best entrepreneurs driving disruptive technology businesses.”
Butkow expressed delight over the disruptive nature of the Mobiz solution with its unique targeted marketing campaigns which gets to consumers very fast through its integrated SmartSMS channel at no mobile data cost to these consumers.
He also believes that this investment shows the importance of Venture Capitals investing in promising startups in difficult times stating that there is hope of good returns after.
Butkows said, “Mobiz isn’t only the perfect product for this time, but will also prove instrumental in helping rebuild in the aftermath of the COVID-19 crisis.
“VCs need to think long-term and take bets on companies that can play a role in regrowing South African business”.
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