Media technology platform Komli Media has raised Rs 214 crore (US$39 million) in a fresh round of funding. Norwest Venture Partners (NVP) led the financing with participation from Nexus Venture Partners, Helion Venture Partners, Draper Fisher Jurvetson, and Western Technology Investment.
The funds will be used to invest in the company's core media technology platforms and expand its presence across the Asia Pacific (APAC) region.
Commenting on the funding, Prashant Mehta, CEO, Komli Media, says, "We see significant long term opportunity in bringing an integrated platform solution to the market. This financing will allow us to materially scale our platform and operations by investing in our Real-Time Bidding (RTB), data, analytics, and retargeting solutions to improve ROI (return on investments) for advertisers and yield for publishers."
He adds, "Our industry-leading solutions will allow us to deepen our presence and engagement with customers and publisher partners across APAC."
Niren Shah, managing director, NVP, says, "We are very pleased with the exceptional work done by the leadership team in driving growth and establishing Komli Media as the leader across APAC. With early investments in superior talent and its innovative platforms, the company has completely transformed its business. Today, it is well positioned to capture a much larger share of digital media within some of the fastest growing markets in the world."
Komli was in the news recently for acquiring 100 per cent stake in Admax Network, one of Southeast Asia's largest digital media networks.First Published : June 13, 2012