South African-founded chat commerce specialist Clickatell, which is now headquartered in California, has secured a US$91-million (about R1.4-billion) in a series-C funding round.
The money will be used for expansion in the US, for product development, and to expand its sales and marketing efforts. The round was led by Arrowroot Capital, with participation from Kennedy Lewis Investment Management, Endeavor Global and Harvest.
The valuation of Clickatell in this latest funding round was not disclosed.
“The new capital will allow the company to significantly grow its engineering skills. It has already earmarked over 200 positions with a strong focus on boosting its African skills complement in the coming months,” Clickatell said in a statement.
Clickatell has made a name for itself in the emerging field of chat commerce, allowing brands to communicate and transact with their customers via platforms like Meta Platforms’ WhatsApp. The company has worked with many local brands, including banks, to offer chat commerce services.
“We look forward to working with businesses and financial institutions across the continent to enable chat commerce — the future of digital commerce and engagement,” said Clickatell co-founder and CEO Pieter de Villiers in a statement on Tuesday announcing the fundraising round.
He said the company will invest further in “addressing the widening gap between the demand and supply of digital skills on the continent as well as encouraging entrepreneurship and start-up innovation”.
“While expansion in the US is a high priority in this capital raise, Africa will remain a core market for us…,” he added. — © 2022 NewsCentral Media