Terragon, a Nigerian mobile marketing firm has raised a $5 million funding from TLcom Capital to build its mobile ad technology to connect more brands and SMEs in Africa.
The mobile marketing technology helps firms increase their customer reach, engagement and conversions. Terragon also runs Twinpine, a pan-African ad network.
According to Ido Sum, Partner at TLcom: “We have followed Terragon closely for a while, seeing it developing into a world-class Marketing Technology company targeting the unique African opportunity. Over recent years we led investments into Upstream (exited to Actis), as well as NYC based Persado and Cubiq who are among the leaders in the MarTech space in the US, and we are convinced that Terragon’s deep market understanding and platform quality can allow Africa’s top brands as well as SMEs to finally reach, acquire and serve African consumers at scale like never before”.
With offices in India, Lagos, Nigeria, Nairobi, Kenya, and Accra, Ghana, Terragon has over 100 employees and will use the funds to hire the best talent and drive business development in Africa.
Terragon Group is a data and marketing technology business that unlocks value for businesses using insight to reach the mobile audience in Africa. The firm says it creates and strengthens the connections that bond people to brands by delivering services and solutions through solutions such as Digital Solutions for Business Transformation, Consumer Access, Data and Intelligence, Mobile Payments, Digital Content Management, and Technology to our clients.
The firm’s main goal is to use data and technology to simplify this process of reaching African consumers through innovation on the mobile device.
The London and Nairobi-based venture firm TLcom Capital in June raised $40 million for its TIDE Africa Fund which will focus on tech startups in Sub-Saharan Africa. The fund makes investments between $500,000 and $10 million per startup and Terragon is its second firm after it invested $40m in Andela late last year.