Nigerian startup Enterfive plans to expand its sentiment analysis tool Versus into other markets after being chosen to represent Africa on the Innovation Stage at the recent Cannes Lions Festival.
Founded by Kemdi Ebi and Ikezi Kamanu last year, Enterfive is a solutions agency that exists to help companies scale their operations either by building bespoke solutions or leveraging products of our own.
It launched its flagship product, Versus, earlier this year, with the idea of promoting competition to improve emerging market economies through closing existing data gaps. The platform combines online and offline consumer data to give brands actionable and competitive insight for the African market, with the startup claiming to be pioneering sentiment analysis of African brands.
Enterfive recently showcased Versus at the 2018 Cannes Lions Festival Innovation Stage alongside other global startups, with the R/GA sponsored segment having a specific focus on diversity and inclusion.
The event, which attracts global leaders and influencers from the creative universe of media, marketing, media, advertising and technology took place last month, featuring a plethora of talks, workshops and networking events. This year’s R/GA sponsored Cannes Startup Academy had a focus on female entrepreneurs and their pivotal role in the world of business today.
Out of eight startups selected to showcase their product at the Cannes Lions Innovation Stage, Enterfive was the only one from Africa. Chief operating officer (COO) Chika Uwazie represented the team, saying it was a great and well deserved achievement.
“I was particularly inspired as a female leader in the tech space to see other women running amazing companies in their respective locations and it was extremely encouraging to say the least,” Uwazie said.
Since Versus’ launch in February, the startup has served top tier clients in Nigeria, within Africa and globally. It now has plans to expand to Ghana, Kenya, Rwanda and South Africa.
“Data gaps is what we spotted and are solving for both local and global brands to access opportunities with a soft landing into doing business in Africa,” Uwazie told Disrupt Africa.
“The competition includes Meltwater, Streetbees, Fraym and Premise, to name a few. However, our data gathering model is the first of its kind with a secured patent for Nigeria.”
Funded by Enterfive, Versus has already begun generating revenue via an annual subscription plan. Uwazie said unanticipated difficulties had mainly been around circumventing infrastructural challenges when interacting with its scout network.
“We are constantly innovating to ensure the quality, seamless data insights we collect for our Versus clients. Although the silver lining is where the apparent challenge of doing business in Africa – and Nigeria in particular – produces the best groundbreaking and pioneering ideas. It almost always requires creative thinking and open mindedness to different and untested methods in a dynamic terrain,” she said.