One of South Africa’s fast-rising marketing platforms, Mobiz, has secured funding worth USD 1 Mn from Kalon Venture Partners.
In a press release sent to WeeTracker, the South African venture capital (VC) firm confirmed its investment in the SmartSMS marketing engagement platform.
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.
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.
It is understood that the investment from Kalon Venture Partners will aid the startup’s expansion plans as it looks to make a mark in the United States and Europe.
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.