HAVAÍC invests in South African mobile marketing platform
South African venture capital firm HAVAÍC has invested in Mobiz, joining Kalon Venture Partners as shareholders. The recent capital raise was to fund the company’s growth and restructure some of the shareholding.
Mobiz has developed proprietary SmartSMS technology, which utilises standard SMS’s with embedded links that provide personalised microsites enhancing the overall user experience. Mobiz provides its blue-chip clients with an easy-to-use marketing software platform that allows users to quickly and easily create well-designed and highly-personalised mobile campaigns. Compared with traditional marketing channels, Mobiz achieves a 400 per cent improved customer engagement rate with 98 per cent open rates and an average of 15 per cent click-through rates.
Founded in 2014 by Greg Chen and Clark Lin, to date Mobiz has seen impressive growth and their client base includes a number of JSE-listed companies. In recent months, the company has seen further growth in times when marketing budgets are shifting strongly in favour of digital and mobile outlets. The SmartSMS solution of Mobiz provides an affordable, efficient and personalised means of delivering digital touchpoints when brands and corporates cannot rely on traditional physical means.
Mobiz has joined the US accelerator programme, Alchemist, with a view to expanding the business into the US market in the coming months. The two founders have a long history in mobile technology dating back to 2005, and they are aware of the nuances in the industry and competition faced in entering a mature market.
Grant Rock, partner of HAVAÍC states, “The Mobiz unique tech offering with its ability to scale internationally fits our investment thesis and we are excited to see Mobiz grow further locally and also enter other markets. We have been most impressed with the experienced and mature team headed up by Greg. They are well-placed to grow exponentially which is what attracts us to this opportunity. We are excited to assist Mobiz with their international expansion starting in the US, as they join several of our portfolio companies who we have successfully moved to the US in the last few years.”
Reach Africa’s private equity community by publishing a Showcase Article on Africa Private Equity News. Contact us at editor@africaprivateequitynews.com for our rate card and more information.