Gameball, a customer intelligence and marketing CRM, has announced that it has raised USD 3.5 million from regional and international investors.
Gameball, which develops an all-in-one customer intelligence and marketing CRM for consumer brands, has announced the completion of a USD 3.5 million fundraise. Investors included 500 Global along with Seedra Ventures, Arzan Ventures, Propeller and Core Vision from the Middle East and Africa-focused funds P1 Ventures and Launch Africa.
Gameball: Understanding customer behavior
Gameball’s platform is a marketing solution that enables omnichannel retailers to gain a 360-degree view across their customer touchpoints and journeys. Gameball’s products allow businesses to analyze customer behavior, make use of first-party data, identify monetization opportunities, and execute retention strategies. Its suite of tools provides marketers with customer analytics and segmentation, incentive and loyalty management, and cross-channel messaging systems.
Egyptian inspiration
Gameball was founded by entrepreneurs Ahmed Khairy, Chief Executive Officer, Ahmed El Assy, Chief Product Officer and Omar Alfar, Chief Technology Officer in 2020. To date, Gameball has served more than 7,000 businesses and 20 million consumers. The platform processes over USD 260 million in transactions every month.
The company plans to create operational teams in Saudi Arabia, Germany and the United Kingdom while investing in commercialization of its product. Gameball will continue to invest in up-market expansion, new hires, growth and product innovation.
Ahmed Khairy, CEO of Gameball said, “We built Gameball to help global brands to analyze customer behavior, accelerate customer retention, monetize their user base and improve customer lift-time value (LTV), all through one platform. With 7,000+ clients, 20 million consumers and transactions worth USD 260 million processed every month, we are excited about entering new markets and building our on-ground presence. This seed round brings on-board renowned investors who will help fuel our growth, marking a critical milestone for us, as we evolve into a truly global platform.”
Increased retention and sales
According to the company, 61% of businesses report that over half their revenue comes from repeat customers with new customer acquisition costing 5x more than customer retention. On average, Gameball’s customers exhibit a 3x increase in purchase frequency over the industry standard. The company’s five best performing clients experience a 7x increase in purchase frequency over the industry average through using Gameball’s rules based promotions.
Gameball serves businesses within the digital economy through an API-first engine, including ecommerce, retail, fintech, and more, while prioritizing user privacy. It also provides plugins for marketplaces like Shopify and Magento, and homegrown platforms like Zid. The company serves global brands including Sega, Xiaomi, Experience Philippines and Breadfast.
Hisham Halbouny, General Partner at P1 Ventures said of the fund raise, “The consumer landscape is evolving rapidly with brands competing for customer engagement, trust and retention. Gameball is solving a large multi-billion dollar challenge that can transform digital marketing, customer loyalty and monetization around the world. We are thrilled to back the team on their journey as they grow their footprint in new markets.”
For more news on Egyptian startups, business and trade, click here.