South African customer journey management startup inQuba closes expansion capital funding
inQuba, a Customer Journey Management startup, secured expansion capital from venture capital firm Knife Capital and African corporate and investment bank Rand Merchant Bank (RMB). This builds on the existing investor base that includes the founding team and ICT investment specialist Convergence Partners. The investment will further enhance inQuba’s software-as-a-service (SaaS) Journey cloud platform capability and accelerate its international expansion drive.
Customer Journey Management tracks, analyses and optimises the manner in which prospects and customers traverse customer journeys and channels over time. inQuba uses diverse data sets of transactional and perceptual data, advanced analytics and machine learning to gain deep insights into customer journeys, customer behaviour and the overall customer experience. The company has clients across Africa, the USA and Asia-Pacific with a focus on financial services, insurance, telecommunications, e-Commerce and retail industries.
Michael Renzon, CEO and Co-founder, inQuba: “In the New Economy we’re seeing businesses come under increasing pressure to optimise acquisition, retention and digital journeys. The inQuba Journey platform provides an integrated analytics and orchestration environment that brings together diverse data sets without requiring bespoke development, resulting in rapid speed to customer journey insight and intervention impact clarity. The combined Knife and RMB investment allows us to scale our international sales, marketing, partner and go-to-market capability while further developing platform features. We’re fortunate that our investors have a global mindset and reach to optimise our next stage of growth.”
Keet van Zyl, Partner and Co-founder, Knife Capital: “In the new digital economy we’re seeing businesses come under mounting pressure to increase customer acquisition and retention but the tools and know-how to do this are often scattered across the organisation. inQuba has been so successful around the world because they can rapidly pull together, analyse and act on large volumes of disparate data. Led by Endeavor entrepreneurs, the high-impact global entrepreneur network, we’re backing experienced founders in Renzon and Rossini with proven execution capabilities. This investment allows inQuba to continuously remain ahead of the curve in delivering the customer experience and orchestration technology of the future.”
Catherine Townshend, of RMB’s Growth Capital Solutions team which specialises in funding and advising high growth technology companies, said: ”inQuba’s expertise in the global trend towards customer journey management is regularly recognised as world class by global research firm Gartner, and American market research company Forrester. Used effectively it helps grow revenue by guiding customers towards their goals delivering an intelligent customer experience - even anticipating what they might want next. 2020 has massively raised people’s expectations of the ease of dealing with a business as companies move to digitise. inQuba can greatly benefit and build on its impressive track record.”
Customer Journey Management is the use of technology to analyse behavioural trends and drive contextual, dynamic customer engagement to make dealing with a business as easy as possible whatever route a customer chooses to interact - be it website, mobile devices, voice calls or social media.
