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Kenya: mSurvey attracts US$1-million cash injection

By , ITWeb
Kenya , 26 Aug 2016

Kenya: mSurvey attracts US$1-million cash injection

Safaricom's $1 million Spark Venture Fund has announced its second investment in mSurvey, the mobile-first research platform founded by Kenfield Griffith in 2012.

mSurvey leverages SMS and mobile messaging technology to simplify access to credible, on-demand data.

mSurvey serves more than 5 countries in Africa, Asia, Latin American and the Caribbean including Kenya, the Philippines, Jamaica, Trinidad and Tobago and Haiti, with plans for continued rollout across the globe, according to a joint statement from Safaricom and mSurvey.

Bob Collymore, CEO of Safaricom, "The Safaricom Spark Venture Fund was set up to assist upcoming entrepreneurs with the resources and connections they need to grow their businesses. mSurvey is well positioned to meet the growing need for timely, informed insights for firms operating in a middle income economy. Today's investment will benefit mSurvey with the requisite resources as the startup embarks on its next phase of growth and delivery of innovative solutions to more firms."

Those behind mSurvey say the platform uses an intuitive interface to target select local audiences or random, diverse populations.

"Users design structured conversations, similar to customised bots, and push questions as chats to millions of mobile phone users. Responses roll in on a live data stream, usually within minutes, and with an average 60 percent response rate that triples the reach of traditional survey tools," reads a statement from the research platform.

"Safaricom's investment in mSurvey is a testament to the impact that we have had on our customers in the last four years and we are grateful to be Safaricom Spark Venture Fund's largest investment to date," said Kenfield Griffith, CEO, mSurvey. "With the increased adoption of mobile messaging as the communication lifeline for consumers across Kenya and other emerging markets, we are excited about the opportunity for growth and plan to use this investment to empower thousands of businesses in Kenya, especially small and medium enterprises, with intelligent data-driven decision making tools."

mSurvey has partnered with Safaricom to provide insight generation tools to businesses that use Lipa Na M-Pesa.

Set up in 2014, the $1 million Safaricom Spark Venture Fund invests in start-ups by purchasing minority equity stakes or providing convertible debt, allowing young businesses to access the finances needed to grow their businesses. The fund has previously invested in Sendy, a fast growing provider of on demand, door-to-door delivery and transportation services.

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