Flytxt, a big data analytics solution provider, has closed an $11 million (Rs 70 Crore approx.) funding led by Sunrise Capital GmbH and Big Data Investments with participation from Flytxt’s existing investors, to expand its operations.
Launched in 2008, Flytxt has previously received funding from a group of angels and family offices in Germany and The Netherlands. The new investment will support Flytxt’s plans to consolidate its presence in the Communication Service Provider (CSP) market and to offer mobile consumer analytics solutions to other industry verticals. The company plans to double its team through the next phase of growth.
Following the latest round of funding, Dr. Ms. Brigitte Mohn (Sunrise Capital GmbH) and Frits Baron van Dedem (Big Data Investments B.V.) will join the Flytxt Board of Directors.
“Their rich business leadership experience will be a significant asset for Flytxt in the next phase of our growth”, said, Joerg Swoboda, Chairman, Flytxt.
The company offers full suite of internal and external monetization solutions for increasing revenue, optimizing margins and enhancing customer experience. It has deployed its platforms with more than 50 customers across 32 countries, analyzing data of more than 500 million mobile consumers, delivering 2% to 7% economic impact consistently. The firm has its headquarters in the Netherlands, corporate office in Dubai and also has presence in Mumbai, Trivandrum, London, Singapore, Lagos, Nairobi, Dhaka and Mexico City.