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Vizury raises about US$9 million from Nokia Growth Partners
The fresh flow of funds will be used to expand its presence in three subcontinents and to step up R&D process and product innovations.
Bengaluru-based digital marketing technology firm Vizury Interactive has announced that it has raised nearly US$9 million in Series B round of funding on October 25. The funding was by Nokia Growth Partners (NGP), while the existing angel investors, Ojas Ventures and Inventus Capital Partners, participated in the process. According to the company, the new fund inflow will be invested to strengthen its presence in Asia, Australia and South America. It also plans to accelerate R&D efforts and product innovations.
He adds, "The capital infusion will allow us to accelerate our investments in R&D, bring new products to market and establish ourselves as clear leaders in the space. Having NGP, Inventus and Ojas in our corner will be invaluable as we make the next big leap."
John Gardner, NGP's managing partner in the US, says, "Vizury's industry-leading behavioural ad targeting products and intense customer focus position the company well for expansion across a number of regions. With this investment, we reinforce NGP's commitment to invest in the growth of the global advertising technology space."
Anupam Rastogi, principal at NGP Advisors India, who has joined Vizury's board, says, "We are pleased with the strong product, technology and analytic capabilities that Vizury has built. We believe Vizury's technology has the potential to optimise customer acquisition and digital marketing for a range of clients. We look forward to working with Vizury and supporting the team in its global growth."
Vizury's retargeting solution, Visitor Relationship Management (VRM), facilitates e-commerce and online travel companies to harness the digital data in a structured, multi-phase manner and profit from it. Currently, VRM is used by Webject Virgin Airlines, Expedia, Zuji, Netshoes, Viajanet, Zozo, Kokuken, Ctrip, Yintai, Jabong, Jet Airways and MakeMyTrip.
Formed in 2008, the firm's VRM analyses volumes of digital data, draws meaningful insights and uses it to come up with pertinent ads. It also helps clients to create tailor-made product or service recommendations by combining VRM campaigns and its own programme.