SA Customer Jounery Management Startup inQuba Secures New Funding for Expansion
South African startup inQuba, which focuses on customer journey management, has secured a round of funding from venture capital firm Knife Capital and leading African corporate and investment bank Rand Merchant Bank (RMB) to boost its platform’s capabilities and accelerate its international expansion.
Customer journey management tracks, analyses and optimises the manner in which prospects and customers traverse customer journeys and channels over time. inQuba uses diverse data sets of transactional and perceptual data, advanced analytics and machine learning to gain deep insights into customer journeys, customer behaviour and the overall customer experience.
Consumer journey management tracks, analyzes and optimizes the way customer journeys and networks are traversed over time by prospects and consumers. To gain deep insights into customer journeys, customer behaviour and the overall customer experience, inQuba uses various data sets of transactional and perceptual data, advanced analytics and machine learning.
The business has customers in the financial services, banking, telecommunications, e-commerce and retail sectors in Africa, the United States and Asia-Pacific, and is now looking to grow further after securing a round of funding. This builds on the current investor base that comprises both the founding team and ICT investment specialist Convergence Partners.
The investment will enable inQuba to use the investment to further develop its software-as-a-service (SaaS) Journey cloud platform and drive its quest for international expansion.
“In the New Economy we’re seeing businesses come under increasing pressure to optimise acquisition, retention and digital journeys. The inQuba Journey platform provides an integrated analytics and orchestration environment that brings together diverse data sets without requiring bespoke development, resulting in rapid speed to customer journey insight and intervention impact,” said Michael Renzon, inQuba’s chief executive officer (CEO) and co-founder.
“The combined Knife and RMB investment allows us to scale our international sales, marketing, partner network and go-to-market capability while further developing platform features. We’re fortunate that our investors have a global mindset and reach to optimise our next stage of growth.”
Keet van Zyl, Knife Capital’s partner and co-founder, said businesses were under the pressure to improve the acquisition and retention of customers, but the tools and know-how to do this are often fragmented around organisations.
“inQuba has been so successful around the world because they can rapidly pull together, analyse and act on large volumes of disparate data. We’re backing experienced founders with proven execution capabilities in Renzon and Rossini, both Endeavor Entrepreneurs – the high-impact global entrepreneur network,” she said.
“This investment allows inQuba to continuously remain ahead of the curve in delivering the customer experience and orchestration technology of the future.”
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