Africa-focused early-stage investment firm VestedWorld has invested in Nigerian marketing technology company Terragon to increase its geographical reach, expand its product suite and develop new partnerships. The terms of the transaction were not disclosed
Founded in 2011, Terragon offers a consumer insight and activation platform that aggregates, organizes, and enriches customer data from various sources and helps brands gain a deeper understanding of African consumers. The company currently operates across Nigeria, Ghana, Kenya, South Africa, and Egypt.
Terragon’s product allows businesses to engage in digital marketing in a data privacy-compliant manner, without having to rely on third-party cookies. It claims more than 100 million user profiles across Africa and plans to scale this number as it expands into new markets.
The company had previously raised funding from TLcom.
Elo Umeh, Terragon’s co-founder, and managing director said, “This investment from VestedWorld will empower us to continue to build and accelerate the progress we’ve made so far – in terms of our pan-African market expansion, business growth, product development, and talent sourcing.”
VestedWorld primarily aims at firms in Ghana, Kenya, and Nigeria though it is open to investing in four secondary countries: Ethiopia, Rwanda, Tanzania, and Uganda. It focuses on agribusinesses, consumer products, and technology-enabled businesses.
“The shifts occurring in the advertising industry are hard to ignore and we believe that it’s only a matter of time before the transition to digital advertising is fully embraced across the markets where we invest,” said Euler Bropleh, founder and managing director of VestedWorld.
He added that the Terragon team has built software that can play an essential role in the evolution of digital advertising across the continent.