Flytxt raises US $11 million to scale-up product adoption
April 26, 2017, Dubai
Flytxt, a fast growing customer data analytics software company, today announced that it has closed a US $11 Million financing with DAH Beteiligungs GmbH a company related to the Hopp family office. The company plans to invest new funds in R&D to continue evolving its software product to further its growth in the Telecom Industry and expand to other verticals. It will also help company to execute its close to US $100 million order backlog.
Flytxt offers an enterprise-class customer data analytics product that can ingest, manage and analyse large volume 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 50 Telcos and other enterprises have deployed this product in 40+ countries. In certain markets, Flytxt and Telco partners also provide brands and agencies with aggregated and anonymised customer insights for executing targeted mobile advertising campaigns. Solutions built using Flytxt’s products and services have generated up to 7% measurable economic value for enterprises.
“Flytxt started in 2008 with a vision to provide over 10% measurable economic value to enterprises using customer data analytics technology. Today we have the 3rd generation of our product and more than 100 enterprises, including some of the largest Telecom operators in the world, benefit from it. 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.” said Dr.Vinod Vasudevan, CEO, Flytxt.