Terragon Secures $9 Million Investment to Expand Cloud-Native Data Software in Africa
Terragon, a prominent data and cloud martech company in Africa, is empowering its clients, primarily telecommunications and financial services companies, with data on the continent’s growing consumer markets. Their main product, Adrenaline, enables telcos to diversify income and marketers to access specialized audiences through telco-data monetization. By utilizing Adrenaline and other tools, Terragon’s corporate clients can efficiently target consumers with behavioral and demographic information across multiple channels, both online and offline, connecting to various touch points, including online sales and payment systems.
In 2018, Terragon secured $5 million in Series A funding, which they invested in further developing Adrenaline into the Terragon Marketing Cloud. Now, with over 150 million segmented profiles in Nigeria, the company announced a $9 million Series B round led by Orange Ventures. This investment will enable the expansion of mobile B2C messaging backed by deep consumer insights from big data. The company plans to accelerate localized ML and AI capabilities and strengthen cloud-native capabilities on its platform to enhance enterprise communication.
Terragon aims to extend its impact across Africa, having already made strides in Ghana and Kenya. Their vision is to create “traffic corridors” during loadshedding, using electricity generated from their base stations to power traffic lights. This ambitious endeavor will streamline traffic flow on key corridors, ensuring smoother movement for commuters.
The success of Adrenaline is linked to Africa’s mobile-first landscape, where phone numbers serve as unique identifiers for digital services. In contrast, Europe relies heavily on email addresses for identification, limiting their sources for solutions like TrustPid. Terragon’s bet on the mobile phone number as a unique ID has paid off, and their revenue has skyrocketed since 2018. The company’s customer retention rate of over 50% quarter over quarter further exemplifies their impact and potential for growth.
The investment by Orange Ventures signifies confidence in Terragon’s cloud-native data software, making them Africa’s pioneer in this domain. With protected intellectual property, inventive business models, and a strong presence in multiple markets, Terragon is well-positioned to lead in cloud-native data software and enterprise AI across the continent.
