Flytxt Raises US $11 Million to Scale-up Product Adoption

DUBAI, UAE, April 26, 2017 /PRNewswire/ --

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.

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Flytxt offers 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 3^rd 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.

About Flytxt 

Flytxt provides customer data analytics software products and services to enterprises, helping them to accelerate their digital transformation journey and generate sustained measurable economic value. Digital customer engagement and digital services solutions powered by Flytxt help to drive superior customer experience, increase revenues, optimise margins and enhance customer loyalty. The company serves over 100 customers including some of the largest telcos, financial institutions and global brands across 40 countries, analysing data of over 600 million mobile consumers. Flytxt has consistently delivered up to 7% economic impact to its customers with its software products, enabling services, best practices and partner ecosystem. The company has headquarters in The Netherlands, offices in Dubai and India with regional presence in Paris, London, Singapore, Nairobi, and Mexico City.

Contact:
Naeem Shaikh
Corporate Communication
Flytxt
naeem.shaikh@flytxt.com
+91-22-39168950

SOURCE Flytxt