Flytxt, a customer data analytics software company, has today announced that it has raised ₹70 crore funding from DAH Beteiligungs GmbH, a company related to the Hopp family office.
With this fresh capital infusion, the company plans to invest in R&D efforts to continue evolving its software product to further its growth in the telecom industry and expand to other verticals. It will also help the company execute its order book of more than ₹500 crore.
Dr.Vinod Vasudevan, CEO, Flytxt, said,
This investment will help us to serve our customers more efficiently as well as invest in R&D, and grow faster through cloud offerings and channel partnerships.
Flytxt was started in 2008 with a vision to provide over 10% measurable economic value to enterprises using customer data analytics technology. The company has headquarters in the Netherlands, offices in Dubai and India with regional presence in Paris, London, Singapore, Nairobi, and Mexico City.
Currently, it has already unveiled the 3rd generation of its product and around 100 enterprises, including some of the largest telecom operators in the world, benefit from it, claims the company.
Flytxt offers enterprise-class customer data analytics product that can ingest, manage, and analyze large volumes of moving customer data to derive actionable insights. The product also has built-in applications to leverage these insights for digital customer engagement and digital services.
More than fifty telcos and other enterprises have deployed Flytxt’s product in over 40 countries. In certain markets, Flytxt and telco partners provide brands and agencies with aggregated and anonymised customer insights for executing targeted mobile advertising campaigns as well. According to the company, the solutions built using Flytxt’s products and services have generated up to 7 percent measurable economic value for enterprises.
The company serves more than 100 customers including some of the largest telcos, financial institutions and global brands across 40 countries, analyzing data of over 600 million mobile consumers. It claims to have consistently delivered up to 7 percent economic impact to its customers with its software products, enabling services, best practices, and partner ecosystem.