We’re very excited to be able to announce that inQuba has secured expansion capital from venture capital firm Knife Capital and leading 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 funding is an investment in the future of Customer Journey Management, globally. It strategically positions us to further enhance our Journey Cloud platform, which will accelerate Customer Journey Management capabilities for our clients and add fuel to our international expansion drive.
Considered the Customer Experience (CX) solution of the future, Customer Journey Management tracks, analyses and optimises the manner in which prospects and customers traverse customer journeys and channels over time. Customer Journey Management uses 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 take. 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.
inQuba has clients across Africa, the USA and Asia-Pacific with a focus on financial services, insurance, telecommunications, e-Commerce and retail industries.
According to our CEO and co-Founder, Michael Renzon, “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. The combined Knife and RMB investment allows us to scale our international sales, marketing, partner network 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 at Knife Capital, a venture capital investment firm that specialises in the international expansion of innovative African businesses, said: “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. We’re backing experienced founders with proven execution capabilities in Renzon and Rossini, both Endeavor Entrepreneurs – the high-impact global entrepreneur network.”
“This investment allows inQuba to continuously remain ahead of the curve in delivering the customer experience and orchestration technology of the future,” he says.
Catherine Townshend, of RMB’s Growth Capital Solutions team which specialises in funding and advising high growth technology companies, said that 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,” said Townshend.
“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.”