Dubai-based data intelligence provider and Arabic-focused social media monitoring platform, Crowd Analyzer, announced on November 26, 2019, that it raised over US$3.5 million in Series A funding from leading venture capital firms based in the UAE, Saudi Arabia and Kuwait.
Crowd Analyzer were semifinalists in the Ideas Track of MIT Enterprise Forum's 7th edition of the Arab Startup Competition (2014).
The investors, led by TechInvest, include Wamda Capital, Arzan VC, Faith Capital and Daring Capital. These funds will enable Crowd Analyzer to significantly enhance and augment the technology behind the platform and support further expansion of their operations in the MENA region.
Crowd Analyzer is focused on analyzing publicly available data from social media platforms and news websites to provide invaluable, up-to-date insights to clients who want to stay ahead of trends and digital conversations. Since inception in 2014, it has raised a total of US$5.09 million in funding, enabling a continuous and rigorously structured development program.
The Series A funding secured by Crowd Analyzer will accelerate the platform’s AI & machine learning capabilities in its efforts to further establish itself as a market leader for social media monitoring in the MENA region. While commercially, the funds will amplify their presence namely in Saudi Arabia and Egypt, as well as some of the smaller GCC markets. Additionally, it will also be used to recruit Saudi local talent who are passionate about the data intelligence industry.
Crowd Analyzer’s long-term goals of developing a fully-integrated digital media market align neatly with the UAE’s Strategy for Artificial Intelligence which seeks to make Dubai the most connected and happiest place to live. To date, the Crowd Analyzer portfolio spans major corporations in the MENA region, featuring heavyweight brands such as Etisalat, Jaguar Land Rover, PwC, Huawei, DHL, L’Oreal, Saudi Ministry of Health and Exxon Mobil.
Ahmed Saad, CEO and Co-founder of Crowd Analyzer, said: 'As the first Arabic-focused social media monitoring platform, Crowd Analyzer continues to offer indispensable intelligence to companies and brands in the region, helping them to know, understand and access their consumer base quicker and easier than ever before.'
'By the end of the Series A funding cycle, we now have three of the five investors involved working directly with us; through this latest round of fundraising, they have recognized our growth and potential,' he added.
Established Saudi lead investor, Hashim Alawadi, CEO, TechInvest, said 'Crowd Analyzer has carved a successful path for themselves in the data intelligence industry. We look forward to their continued growth and their future innovations. This announcement is testimony to the impact of entrepreneurship and the capacities and capabilities of regional startups, that with the right support and ecosystem can achieve great strides.'
Omar Almajdouie, Founding Partner, Raed Ventures, said: 'Two years ago, when we decided to invest in Crowd Analyzer, it was with the belief that it had big potential in Saudi Arabia. TechInvest, as the lead investor in this round realizes our belief and further grows our confidence in the company and its leadership. With this funding in place, we see a solid and accelerated future trajectory for the company, unlocking new opportunities to better serve businesses with more advanced technologies and solutions. We look forward to continuing our support in helping them expand and grow their presence in the Saudi Market.”
Founded in 2014 by Ahmed Saad and Bahaa Galal, Crowd Analyzer entered the market commercially in 2016. The team specializes in Arabic-focused social media monitoring, analyzing content and conversations for sentiment, relevance and Arabic dialect using groundbreaking technology including AI, Proprietary Machine Learning and Natural Language Processing.