Terragon secures growth investment from VestedWorld
VestedWorld, an Africa-focused early-stage investment fund manager, today announced an investment into Terragon, a marketing technology company based in Nigeria. VestedWorld is partnering with Terragon to further increase the company’s geographic reach, expand its product suite and develop new partnerships.
Founded in 2011 with the vision to become the leading marketing technology company in Africa, Terragon offers a consumer insight and activation platform that aggregates, organises and enriches customer data from various sources and helps brands gain a deeper understanding of African consumers. At the same time, customers receive more personalised engagement from brands through preferred channels and are offered relevant products and services.
Despite increased penetration of mobile and high-speed internet across Africa, brands have struggled to find the best way to engage with consumers through digital means. Lack of actionable customer data, efficient digital channels and engagement tools have been highlighted as leading factors for the slow adoption of digital and mobile marketing on the continent. Terragon is bridging the gap by providing the tools needed to gather, aggregate, and monetise first party data collected directly from customers, and allows advertisers to effectively target prospective customers and measure the effectiveness of their ad campaigns. The company operates across Nigeria, Ghana, Kenya, South Africa and Egypt.
Furthermore, the digital marketing industry is going through a profound change as Google, Apple and Mozilla are implementing data privacy policy changes to phase out third-party cookies on browsers that allow advertisers to track users across different websites. This decision is driven by the growing awareness of privacy issues raised by the European Union’s General Data Protection (GDPR) and the ePrivacy Directive. This change is expected to make third-party data increasingly scarce. Terragon’s product allows businesses to engage in digital marketing in a data privacy compliant manner, without having to rely on third-party cookies. Terragon has amassed more than 100 million user profiles across Africa and plans to scale this number as it expands into new markets.
Elo Umeh, Terragon’s co-founder and managing director states, “It’s really important to me as an entrepreneur to work with investors that share my vision. The company is at a point where we’ve been able to build capacity and forge partnerships which have also positioned us as a preferred go-to partner for global big tech companies working to solve for Africa’s peculiar data and consumer marketing challenges – it’s a testament to the very high standards we’ve set and within which we operate. This investment from VestedWorld will empower us to continue to build and accelerate the progress we’ve made so far – in terms of our pan-African market expansion, business growth, product development and talent sourcing.”
VestedWorld has deep experience investing in early-stage, technology-enabled businesses across Africa, including investments in Viamo, Vanu, Sendy, Kasha and DrugStoc.
“The shifts occurring in the advertising industry are hard to ignore and we believe that it’s only a matter of time before the transition to digital advertising is fully embraced across the markets where we invest,” said Euler Bropleh, founder and managing director of VestedWorld. “We’re confident that the Terragon team has built software that can play an essential role in the evolution of digital advertising across the continent and are excited to partner with them to help scale their solution across Africa.”
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