South Africa’s marketing startup Mobiz has secured $1 mn from Kalon Venture Partners, a South African venture capital (VC) firm.
“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 and every one of their customers,’’ Mobiz co-founder CEO, Greg Chen said in a press release.
Here Is All You Need To Know
- With the latest investment, Mobiz will be looking to expand its plans as it looks to make a mark in the United States and Europe.
Why The Investor Invested
“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,” said Kalon Venture Partners CEO, Clive Butkow.
Butkow also praised the disruptive nature of the Mobiz solution with its targeted marketing campaigns which are deployed to customers within minutes via its integrated SmartSMS channel (at no mobile data cost to consumers).
The Kalon Venture Partners CEO also believes that this investment shows the importance of VCs investing in promising startups in tumultuous times, citing the possibilities that will come up in the ‘after’.
“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,” he says. “VCs need to think long-term and take bets on companies that can play a role in regrowing South African business”.
Kalon Venture Partners says it was impressed by their track record and this was one of the factors that spurred the investment.
The VC also stated its commitment to keep investing in promising startups even in tough times such as these when a global pandemic is sweeping through the planet.
Read also:South Africa Deploys the Military, Police to Enforce Nationwide Lockdown
What The Startup Does
- Mobiz was co-founded by CEO, Greg Chen, and CTO, Clark Lin. The startup boasts a number of 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-personalised 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.
- Compared to traditional marketing channels (email, paid ads, printed catalogues, etc), Mobiz claims its numbers reflect a 400 percent improved customer engagement rate with 98 percent open rates and an average of 15 percent click-through rates.
- Additionally, 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.
“Mobiz believes that personalisation 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.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.
He could be contacted at udohrapulu@gmail.com