German Company Invests $11 Mn In Data Analytics Platform Flytxt

Customer data analytics software company Flytxt has raised about $11 Mn (INR 70 Cr) funding from DAH Beteiligungs GmbH, a company related to the Hopp family office.

The company plans to invest the newly raised capital for software product R&D and to expand to other verticals.

Vinod Vasudevan, CEO of Flytxt said: “Flytxt started in 2008 with a vision to provide over 10% measurable economic value to enterprises using customer data analytics technology. Today we have the third-generation of our product and more than 100 enterprises, including some of the largest telecom operators in the world, benefit from it.”

As per the CEO, the investment will also help the company to grow faster through cloud offerings and channel partnerships.

Flytxt offers multiple, enterprise-level solutions on the NEON-dx platform to suit various objectives. These include customer lifecycles, reducing churn, meaningful customer engagement, quicken the speed of decision-making and more. The product also leverages these insights for digital customer engagement and digital services.

The company claims to deliver up to 7% economic impact to its customers with its full solution combining software products, enabling services, best practices and partner ecosystem.

According to a company statement, more than 50 Telcos and other enterprises have deployed the product in 40+ countries. It claims to analyse the data of over 600 Mn mobile consumers. The company has headquarters in The Netherlands, offices in Dubai and India with regional presence in Paris, London, Singapore, Nairobi, and Mexico City.

Flytxt competes with Pontis, Globys and Comviva, etc.