Terragon’s $9M Raise Validates Innovations in Africa’s Cloud and MarTech Sector
Terragon, a prominent data and cloud martech company in Africa, offers products to provide its clients, primarily telecommunications and financial services companies, with data on the continent’s growing consumer markets. One of its main products, Adrenaline, enables telcos to monetize data and marketers to access specialized audiences not available through traditional channels. The company recently raised $9 million in a Series B round led by Orange Ventures, with participation from other investors, to expand its focus on mobile B2C messaging and utilize deep consumer insights from big data.
The investment will strengthen its platform’s cloud-native capabilities and accelerate localized ML and AI, supporting increased enterprise communication. Terragon aims to kickstart its Pan-African expansion, building on its presence in Ghana and Kenya. The company’s growth, interest from major telecom giants, and partnerships with AWS and Microsoft reflect Africa’s market maturity in cloud and martech.
In the context of the changing online advertising landscape, the elimination of third-party cookies by major players like Google poses challenges to advertisers who rely on tracking users across multiple websites. The formation of TrustPid by European carriers aims to create cross-operator ad-targeting infrastructure based on first-party data to adapt to these changes. Terragon’s approach, similar to TrustPid, involves using a central Customer Data Platform (CDP) with first-party data from telcos, like MTN Nigeria, to accurately profile customers and deliver personalized ads and experiences.
Terragon’s successful funding round and innovative solutions demonstrate its leading position in Africa’s cloud and martech space, offering valuable insights and targeted advertising opportunities to its clients.
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