TLcom Capital Invests $5 Million in Nigeria-Based Startup, Terragon Group

Terragon Group stands as another example of West Africa’s technological momentum.

As a continent, Africa is overflowing with modern ventures.

Plenty of internal growth exists in the business sector, serving as proof of the continent’s potential to develop itself through creative strategies on par with its Western counterparts.

In West Africa, Nigeria has numerous tech startups. Paystack is an online payment platform accepting one-off payments in a safe and secure way. In 2016, it received a $1.3million seed investment from international and homegrown investors. MeQasa is a Ghanaian company that raised $500,000 in 2015. It offers a free service for landlords, brokers and real estate workers. This platform has a gallery of thousands of properties available for rent or sale, making the housing search fast and easy for tenants. These continuing developments and investments earmark West Africa as a visible contender on the global playing field.

TLcom Capital, an African company that supports extraordinary Sub Saharan entrepreneurs, invested $5 million in Nigerian-based Terragon Group (Terragon), showing a commitment to Africa’s data analytics market. This is TLcom’s second investment from its $40 million Tide Africa Fund for new and developing digital companies.

Terragon is a marketing and technology business that provides insight about Africa’s developing consumer market to financial and telecommunications companies, demystifying and improving understanding of West African consumers.

Terragon strengthens brands by providing services and solutions around these 6 core areas:

Digital Solutions for Business Transformation
Consumer Access
Data and Intelligence
Mobile Payments
Digital Content Management

The company combines innovation with insight to connect with Africa’s mobile audience.

Terragon has various products in its catalogue and here are two of them.

Adrenaline, a cloud-ready mobile advertising product, targets granular data based on a mixture of first-party subscriber anonymised data, second-party data from the internet and third-party data from partner data providers. Companies can produce multi-channel monetised mobile advertisements on teleco and web or app channels.

According to CTO Ayodeji Balogun of Terragon’s largest market, “Adrenaline was built using a comprehensive data governance framework to ensure data security and consumer privacy”. In terms of ensuring greater data security, Terragon is working with Deloitte as a means of implementing ISO/IEC 27001 information protection on all platforms and systems.

Terragon’s product gives telcos international and local advertising leads. Advertisers benefit from a wide reach in the African market by using teleco channels. Lastly, subscribers can expect an improved user experience, and targeted and relevant ads.

Blink is a “mobile-first monetisation solution” platform, which allows merchants and content providers to receive and accept transactions for goods and services.

Evidently, Terragon is passionate about transforming the way African companies interact with customers. “We can track across several layers — web, mobile, mobile money — and track data to do things channel agnostically,” said Terragon CEO Elo Umeh, explaining how the company collects consumer data from numerous sources.

Across Africa, the customer service industry is growing.

This industry represents 55% of Africa’s economic activity, improved  by consumer spending, e-commerce, the mobile industry, and better broadband which establishes a space for more data service companies like Terragon.
MSurvey, a Kenyan company, develops real-time customer feedback via SMS, utilising mobiles for understanding consumers on a detailed level.

Companies like mSurvey and Terragon step away from top-down macroeconomic data received through estimates and forecasts from popular institutions such as the World Bank and the IMF. The bottom-up method provides more up-to-date information about local African consumers, and this technique could attract greater global and local investors, thereby strengthening Africa’s economy.

Established in 2008, Terragon Group was born out of a passion for exploring the opportunities of combining media channels on mobile. They were armed with the goal of alternating the platform and techniques through which companies engage with consumers. Terragon has grown over the years, becoming “a leading data and marketing technology” company which helps numerous multinational and national brands. Filled with a group of over 90 experts from Kenya, Ghana, Cameroon and India, Terragon is made up of a combination of two independent businesses called Terragon Digital and Twinpine.

The company is transforming the face of data analysis in Africa, creating a promising and lasting future for the continent’s consumer insight industries.