By Robert Anderson / GulfBusiness
The company said it would use the funds to expand its operations in Saudi Arabia and MENA
Dubai-based social media monitoring start-up Crowd Analyzer has received $1.1m of Series A funding from a group of venture capital firms in Kuwait, Saudi and the UAE.
The company said the group was led by Wamda Capital and included Arzan Capital, Faith Capital and Raed VC.
Crowd Analyzer was founded in 2014 by Ahmed Saad and Bahaa Galaa and began commercial operations in 2016. Along the way it was a participant in Tecom Group’s in5 Innovation Centres before moving to Dubai Media City.
The company specialises in Arabic social media monitoring, content, relevance and sentiment analysis using artificial intelligence, machine learning and natural language processing.
Current clients include Dubai Media Group, International Committee of the Red Cross, Expo 2020, Huawei, Souq.com, DHL and Uber along with regional events such as the World Government Summit, Cannes Lions and Dubai Lynx.
“As the only Arabic-focused social media monitoring platform, we offer our clients invaluable data that incorporates regional dialects, relevance and of course sentiment analysis,” said CEO and co-founder Saad.
“This latest round of funding will enable us to continue our growth in Saudi Arabia and allow us to explore further opportunities in the regional market.”
The company said it would use the funds to expand its operations in Saudi Arabia and the wider Middle East and North Africa.
Earlier on Tuesday, Dubai-based online marketplace The Luxury Closet said it had also secured $8.7m in funding to expand its business.