South African startup inQuba, which has established itself as a world-leader in customer journey management, has secured a round of expansion capital to help it enhance the capabilities of its platform 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.
The company has clients across Africa, the United States (US) and Asia-Pacific, with a focus on financial services, insurance, telecommunications, e-commerce and retail industries, and is now looking to expand further after securing a round of funding from venture capital firm Knife Capital and leading African corporate and investment bank Rand Merchant Bank (RMB). This builds on the existing investor base that includes the founding team as well as ICT investment specialist Convergence Partners.
inQuba will use the investment to further enhance its software-as-a-service (SaaS) Journey cloud platform capability and accelerate its international expansion drive.
“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, partner and co-founder at Knife Capital, said businesses were coming under mounting pressure to increase customer acquisition and retention, but the tools and know-how to do this are often scattered across 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.”