Bengaluru-based Voiro, a revenue management suite for ad-led digital publishers, has raised Rs 2.5 crore ($363,023 at current exchange rate) in a pre-Series A round from crowdfunding platform 1Crowd’s investor community and angel fund.
The funds will be used for domestic as well as international market expansion, the company said in a statement. The firm will also invest in strengthening the team and platform.
Founded in 2014 by Kavita Shenoy and Anand Gopal, Voiro enables media and digital publishers through cloud-based technology solutions to achieve monetisation of their advertisements, besides assisting them to leverage their data across sales, finance, and operations.
Owned by Voiro Technologies Pvt. Ltd, the home-grown platform helps digital publishers manage revenue by streamlining workflow, harnessing data, and increasing efficiency through automation. Its cloud-based suite of solutions offer a single window of data visibility for interpretation of information and cross-functional synergy.
Voiro caters to a number of over-the-top service providers, digital publishers and media houses.
“We feel the analytics provided by Voiro are of great use to clients as this helps not only to manage their inventory but also to monetise the same. The company’s deep understanding of the media industry and its pain points, combined with a strong technology team that can build intelligent solutions to tackle these problems, makes Voiro a firm with strong potential in the digital publishing and advertising space,” Anup Kuruvilla, co-founder, 1Crowd, said.
As part of the deal, Mohan Kalyan, former executive vice-president, Cognizant Technology, will join the board of the company.
1Crowd, which was launched in 2015, is an equity crowdfunding platform. It has invested in over 20 firms such as realty-tech startup Zipgrid, community building platform Fourth Ambit, and advertising-technology startup Proximit Media India.
Early this year, 1Crowd marked the first close of raising money for its debut angel fund at Rs 23 crore ($3.5 million).
The fund is designed to co-invest with the equity crowdfunding platform.
1Crowd’s recent investments include food startups Hoi Food Concepts, Snackible and Smoodies; implant maker SynThera; cold chain technology firm Tessol; and automation startup Silvan Innovation.