Flytxt, a customer data analytics software company based here, has closed a Rs 70-crore financing deal with DAH Beteiligungs GmbH, belonging to the Hopp family office in Germany. This is also the family office of the co-founder of SAP.
Flytxt plans to invest the new funds in R&D to further evolve its software product in the telecom industry and expand it to other verticals, according to Vinod Vasudevan, CEO.
A couple of years ago, family offices of the global mass media major Bertelsmann and the Dutch royals had invested a similar amount in the Netherlands-headquartered Flytxt. It has a development centre at Technopark here.
Vasudevan told
Flytxt offers an enterprise-class customer data analytics product that can ingest, manage and analyse large volumes of moving customer data to derive actionable insights.
The product has in-built applications to leverage these insights for digital customer engagement and digital services.
Vasudevan said more than 50 telecom companies and other enterprises have deployed this product in more than 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 70 per cent measurable economic value for enterprises, Vasudevan claimed.
"The company started in 2008 with a vision to provide over 10 per cent measurable economic value to enterprises using customer data analytics technology.
"Today, it has supplied its third generation product to more than 100 enterprises, including some of the largest telecom operators in the world," he added.
The Hopp family investment will help the company serve customers more efficiently as well as invest in R&D, and grow faster through cloud offerings and channel partnerships, Vasudevan hoped.