When Wyzetalk started as a tech project in 2011 born out of frustration at the limiting features of social business software available, nobody envisioned the rapid successes it would achieve. IDC* estimates that by 2016 the size of the global social and collaboration software market would grow to $4.5 billion annually. Fast track to 2015 and Wyzetalk is setting the local market on fire with 30,000 paying users currently on its platforms. It’s a clear leader in the social business space with multiple collaboration platforms, including a unique mobile solution for mass workforce engagement suited to emerging markets. Wyzetalk has also added a new Professional Services division focused on advisory services, social business strategy consulting and ongoing community management services to ensure successful implementations.
Its ambitious plans with a number of key companies already benefiting from Wyzetalk’s services, has caught the eye of a global network of early-stage investors. Last year Clifftop Colony Capital Partners brought the amount of capital it raised for the company to over R20 million from local and international investors including Kenyan based, Savannah Fund. “Most recently Invenfin, the early stage venture investment arm of Remgro Limited, has become our largest investor with the acquisition of a 20% equity stake. It means that we benefit from the exceptional experience, networks and resources of this active investment firm,” says Gys Kappers, Wyzetalk CEO.
Invenfin’s Executive Director Stuart Gast says: “Wyzetalk’s early successes in this market, innovative technology and strong team led by Gys, have impressed us. We are excited by this business’ potential in South Africa and other emerging markets. Invenfin looks forward to being a valuable partner in helping Wyzetalk achieve its objectives, whilst our investment will enable the business to scale more rapidly.”
“We welcome Invenfin as a new shareholder to the group. For Wyzetalk this means an important step towards institutional funding, thus now allowing us to scale up faster to establish ourselves as the premier social business solution for emerging markets,” adds Oliver Drews, Wyzetalk Chairman.
Wyzetalk’s enterprise collaboration solution continues to evolve with additional features being added constantly as part of a comprehensive development pipeline on par with international platforms, but, most importantly, with some game changing differences. Larger enterprises can use Wyzetalk as a social intranet solution with a front end dashboard that has the ability to integrate with a company’s existing software systems. Then there’s the link with applications like LinkedIN, Skype, Dropbox, Box, Microsoft, SAP and Oracle to name a few. All this in addition to the Company-starter conversation stream similar to Facebook but for business. This sees workers getting an update from a central location on all the news relevant to them, as well as having the ability to collaborate with fellow community members on their desktop and through a mobile app.
Emerging market feature phone opportunity
Wyzetalk Workforce is an established mobile solution that helps employers improve communication and engagement with their mass workforces using both feature phones and smartphones. Employers can send one-way notifications, get workers to respond to important messages and surveys and they can also provide always-on content to ensure workers are kept up to date and able to communicate back to the company at any time. All this at no cost to the worker and with incentives such as airtime and retail vouchers built in. “This mobile workforce solution is exceptionally powerful when combined with Wyzetalk’s enterprise platform as the results of campaigns and the feedback from these workers gets filtered directly into a conversation stream where the relevant decision-makers have access to the information to take action,” continues Kappers.
Wyzetalk has also established an agreement with a global leading consulting firm that will see the company implementing the Workforce solution for their blue chip client base.
“Given the needs of industries such as mining, retail, manufacturing, construction,and logistics, Wyzetalk and its social business approach will be able to grow to meet the needs of the emerging markets more effectively than ever,” concludes Kappers.
* International Data Corporation (IDC), 2014