Vizury Interactive raises $9 mn in second round funding

26 Oct,2012

By Peerzada Abrar


Digital marketing technology company Vizury Interactive Solutions has raised second round funding of $9 million from Nokia Growth Partners (NGP) with participation from existing investors Ojas Ventures and Inventus Capital Partners.


For Nokia Growth Partners this investment, reinforces its commitment to tap the growth of the global advertising technology space. “Vizury’s behavioural ad targeting products and intense customer focus position the company well for expansion across a number of regions,” said John Gardner, NGP managing partner in the US.


Vizury will use the funds to hire talent, strengthen the company’s presence across Asia, Australia and South America, drive research and development efforts and product innovations. “We see this funding as an endorsement of our approach to strategically partner with our customers and help them drive revenue using a combination of cutting edge technology and enterprise class service,” said Chetan Kulkarni, co-founder and CEO of Vizury.


Vizury’s digital advertising platform helps analyse massive volumes of digital data, draw meaningful insights and use it to deliver highly pertinent ads on the fly for customers such as Virgin Airlines, Expedia, Jet Airways and MakeMyTrip. The solution also allows Vizury customers the flexibility to make product and service recommendations that match individual consumer needs by aligning campaigns with their own programs.


“The market we are tapping is worth $750 million,” said Vikram Nayak, co-founder and CTO of Vizury. The firm expects to clock revenues of $25-$60 million and tap other industries such as automotive and financial services. In June, Komli Media, India’s biggest online media technology platform for advertising, raised $39 million, or Rs 214 crore.


Norwest Venture Partners led the round with participation from existing investors- Nexus Venture Partners, Helion Venture Partners and Draper Fisher Jurvetson- along with one new investor, Western Technology Investment. The online advertising market in India is estimated to be worth Rs 1,850 crore, which is just 7% of the overall advertising pie, according to an Avendus Report. However, the sector is expected to grow rapidly to Rs 7,000 Crore by 2015.


Source:The Economic Times

Copyright © 2012, Bennett, Coleman & Co. Ltd. All Rights Reserved


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