Msurvey Secures Strategic Investment From $1 Million Safaricom Spark Fund

By Soko Directory Team / August 26, 2016



safaricom-spark-venture-fund

Safaricom’s $1 million Spark Venture Fund has today announced its second investment in mSurvey. Founded in 2012, mSurvey is the only global mobile-first research platform leveraging SMS and mobile messaging technology to simplify access to credible, on-demand data from the emerging world.

Launched in 2012 by Kenfield Griffith, an MIT PhD alum and Caribbean Native, mSurvey was built out of a passion to simplify access to high-quality data from hard-to-reach communities. Pulling together a team of fellow MIT alums, interns and home-grown Kenyan talent, Griffith and mSurvey Co-Founder and Chief Technology Officer Louis Majanja launched the company in the heart of Nairobi, their first target market. Today, 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.

“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,” said Bob Collymore, CEO, Safaricom.

mSurvey is creating brand new opportunities by connecting businesses and organizations to previously hidden and offline voices. Unlike traditional research tools that can be time-consuming, expensive and subject to low response rates, mSurvey opens a dynamic, interactive and unfiltered communication channel that delivers insights from real people, in real time. This eliminates the need for printed questionnaires, local administrators or long response times that are currently the norm.

Read: Safaricom Spark Fund Invests in Local Package Delivery Startup

mSurvey uses an intuitive interface to target select local audiences or random, diverse populations. Users design structured conversations, similar to customized 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.

“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.”

Some of mSurvey’s clients include Safaricom and other mobile operators in East and West Africa, banks and financial institutions, and restaurants and research organizations. 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.



About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

View other posts by Soko Directory Team


More Articles From This Author







Other Related Articles








SOKO DIRECTORY & FINANCIAL GUIDE

ARCHIVES

2018
  • January 2018 (291)
  • February 2018 (220)
  • March 2018 (279)
  • April 2018 (226)
  • May 2018 (240)
  • June 2018 (136)
  • 2017
  • January 2017 (183)
  • February 2017 (195)
  • March 2017 (207)
  • April 2017 (104)
  • May 2017 (169)
  • June 2017 (206)
  • July 2017 (190)
  • August 2017 (196)
  • September 2017 (186)
  • October 2017 (236)
  • November 2017 (253)
  • December 2017 (266)
  • 2016
  • January 2016 (167)
  • February 2016 (165)
  • March 2016 (190)
  • April 2016 (143)
  • May 2016 (246)
  • June 2016 (183)
  • July 2016 (271)
  • August 2016 (250)
  • September 2016 (234)
  • October 2016 (191)
  • November 2016 (243)
  • December 2016 (154)
  • 2015
  • January 2015 (1)
  • February 2015 (4)
  • March 2015 (166)
  • April 2015 (109)
  • May 2015 (117)
  • June 2015 (121)
  • July 2015 (150)
  • August 2015 (157)
  • September 2015 (189)
  • October 2015 (171)
  • November 2015 (174)
  • December 2015 (208)
  • 2014
  • March 2014 (2)
  • 2013
  • March 2013 (10)
  • June 2013 (1)
  • 2012
  • March 2012 (7)
  • April 2012 (15)
  • May 2012 (1)
  • July 2012 (1)
  • August 2012 (4)
  • October 2012 (2)
  • November 2012 (2)
  • December 2012 (1)
  • 2011
    2010
    2009
    2008
    2007
    2006
    2005
    2004
    2003
    2002
    2001
    2000
    1999
    1998
    1997
    1996
    1995
    1994
    1993
    1992
    1991
    1990
    1989
    1988
    1987
    1986
    1985
    1984
    1983
    1982
    1981
    1980
    1979
    1978
    1977
    1976
    1975
    1974
    1973
    1972
    1971
    1970
    1969
    1968
    1967
    1966
    1965
    1964
    1963
    1962
    1961
    1960
    1959
    1958
    1957
    1956
    1955
    1954
    1953
    1952
    1951
    1950