Mintrics announces USD 500k investment round earmarked for US expansion
STARTUP WATCH- Egyptian social video analytics platform Mintrics is looking to raise USD 500k in an investment round, with which it plans to set up a sales office in the US, growth hacker Adel Heikal tells Ventureburn. Hawaii-based accelerator Blue Startups is among the investors participating in the funding round, which is likely to conclude within two months, Heikal added. This follows an announcement from Mintrics earlier this week that it was the first startup from the MENA region to be accepted into Blue Startups’ 11th accelerator program, where it will receive funding of up to USD 350k.
What is Mintrics? The platform uses machine-learning algorithms to help video publishers understand how their content is performing and how it could be improved. It allows creators to assess their competition and spot industry trends, enabling them to increase their viewership and engagement. Launched in 2016, and with a team of 10 in offices in Cairo and Dubai, Mintrics now has 18 clients, including Discovery Networks, YouTube and the Dubai Future Foundation. Dubai-based private equity firm Numu Capital invested an undisclosed amount in the company in 2017.