Komli Media successfully completed its third round of funding, aimed at expanding the firm’s offering and upgrading its existing products and technology. The Mumbai based firm raised $15 million, about Rs.67.5 crore, led by Norwest Venture Partners (NVP) and existing investors, Nexus Venture Partners, Helion Venture Partners and Draper Fisher Jurvetson (DFJ).
Under the terms of the financing agreement, Niren Shah, Managing Director at NVP India, has joined the board of Komli Media. In its previous 2008 raising, Komli raised approximately $7 million in its first round of funding followed by second round of $6 million in 2010 from Nexus, Helion and DFJ.
Komli Media owns an online ad network – Komli and an audience measurement tool – Vizisense.com. It represents more than 2000 websites including Babycenter in India, Bloomberg in Australia, social networking site Facebook and travel website Expedia Inc. In 2010, Komli Media expanded its presence in Asia Pacific and European regions by acquiring Australia-based PostClick and UK-based Indoor Media.
The Company has 115 employees and reported revenues of Rs.8.61 crore with loss of Rs.6.81 crore for the year ending 31st March 2010.
In the recent deal, Hyderabad based Ybrant Digital Limited raised $48 million in debt and equity through a fresh round of funding from Oak India Investments and existing investors, Asia Pacific Capital and ICICI Bank. The funds raised will be used to develop new technology, expand internationally and explore acquisitions opportunities. The company is also considering the option of IPO for further fund raising.
Komli Media is Asia Pacific’s leading digital media network platform. Its digital advertising technologies enable marketers to reach and acquire their audiences and publishers to maximize their revenues. Komli Media powers Asia Pacific’s leading ad network platform with solutions across performance marketing, social media, video advertising, audience targeting, rich media, online audience measurement and brand impact measurement.
ViziSense, India’s leading online audience measurement and ad spends benchmarking platform is powered by Komli Media. Australia's leading site representation firm, PostClick, is a subsidiary of Komli Media. Headquartered in Mumbai, Komli Media is also present in Melbourne, New Delhi, New York, Palo Alto, Singapore, Sydney, and Toronto.
Prashant Mehta, Komli Media chief operating officer noted that as Komli Media expands its core operations in the fast-growing Asia-Pacific markets with a digital market size of more than $3 billion, the firm plans to leverage this funding to double its investment in its key products and platforms.
Source: Invest in India