Over the last 100 years, marketing has constantly been evolving to solve the problem of finding customers cost-effectively; as the world continues to shift towards increased digital adoption, that challenge is magnified. Companies nowadays work with massive amounts of fragmented data and multiple channels that present an opportunity for disruption. We are glad to announce our first investment in ConvertedIn, an AI-powered solution to drive personalized and scalable campaigns that convert customers, achieve measurable results, and grow revenue.
In a data-driven world, many marketers have shifted their methods to experiment using different channels and content. It can take weeks or months to arrive at the right formula that works for a certain product. Introducing a new product or service might break that formula. ConvertedIn’s platform leverages data from multiple sources and brands; once connected, it drastically improves the aforementioned feedback loop and drives huge results in return on investment. Moreover, the platform leverages data for automated real-time ROAS improvements. Clients of ConvertedIn have increased return on ad spend (ROAS) by 2x and reduced customer acquisition costs (CAC) by 40%.
ConvertedIn’s platform connects with over 10 major e-commerce platforms and ad networks. Clients leverage the platform to drive personalized multichannel marketing campaigns on social media, SMS, email, search, and other channels.
ConvertedIn primarily targets the Middle East and North Africa (MENA) and Latin America (LATAM) markets with an estimated cumulative base of over 500,000 e-commerce stores, growing at more than 22% YoY. Additionally, social media usage exceeds that of the United States and China by 70% in both regions. On the other hand, advertisers spend over $20Bn annually in both regions, with increasingly more spending on digital advertising, which presents a large opportunity for the company.
The company is run by a world-class team of technologists and marketers. Mohammed Fergany, the CEO, founded ConvertedIn with Mohamed Atef and Mustafa Raslan in 2019. All three founders are entrepreneurial-by-nature and have significant experience in advertising networks, regional technology companies, and their own startups in the past. The results speak for the quality of the team, as they have managed to serve +100 enterprises and have achieved double-digit month-over-month growth since launching their digital platform.
We are excited to back ConvertedIn and its incredible team in their endeavor to build a state-of-the-art technology to simplify digital marketing and compete on an international level. We have the trust in the team and their abilities as they embark on the company’s next stage of growth in MENA and Latin America.
