North Africa and MENA-focused video analytics and intelligence platform Mintrics has secured an unspecified amount of investment from Hawaii-based Blue Startups Accelerator Program, having joined the initiative as the first founding cohort team from the MENA region.
Blue Startups ordinarily invests up to USD 350 K per company. The accelerator has reportedly invested in 78 companies, has more than ten cohorts and is regarded as one of the most significant accelerator programs in the United States.
Their last funding was made on May 9, 2019, when they participated in a USD 1 Mn round for San Francisco-based vacation startup Hostfully Inc.
Mintrics, founded in 2016 by Muhammad Zahlan, Tarek Nasr, and Tarek Shalaby, helps video publishers understand how their content is performing. With the help of utilizing machine learning algorithms, it gives recommendations on how to enhance future videos, spots the latest trends and acquires detailed analytics and insights on how their client’s competition is performing.
The startup uses the data to allow said publishers to double down on their core performance metrics, including viewership and engagement while optimizing their production and distribution spend.
Through a single dashboard, Mintrics benchmarks all of the subscriber’s video content against historical performance in all social channels and against industry averages.
Mintrics also determines the impact of the creative elements and the advertising spend across each piece of video content. Its clients include Discovery Networks, Youtube and Dubai Future Foundation.
Chenoa Farnsworth, Managing Partner at Blue Startups, said: “We are excited to work with Mintrics on their US market entry strategy – as a global accelerator we are uniquely suited to assist them at this stage in their development.”
Tarek Nasr, CEO at Mintrics, said: “The decision to apply to Blue Startups was an easy one. Our core market is based in North America, and this provides us with a chance to set-up in that market.
Furthermore, the Blue Startups program is one of the most beneficial and reputable programs in the US; we are ecstatic to get the opportunity to take part!“.
WeeTracker previously reported that Mintrics raised funding from Dubai-based VC seed fund Numu Capital, an investment that went into the startups’ aggressive global expansion plans and the additional development of its analytical technology.
Their third and last investor is MassChallenge, an English global non-profit startup accelerator and competition with a focus on high-impact, early-stage entrepreneurs.
Per a report by Markets & Markets, the Social Media Analytics sector is touted to grow at a CAGR of 28%. The study also predicts how the size of this space is expected to increase from $2.23 billion in 2016 to $9.54 billion within the next five years.
Technavio, a leading market research company, says that currently, about 32% of the global customers make purchases after obtaining product information, reviews, and suggestions on social media platforms. In developed countries of the UK and the US, this number touches about 50%.