Voiro raises $1.8 million in Pre Series A investment led by Mela Ventures
Voiro to focus on product innovation and international expansion.
24th March, 2021 : Voiro, a Bangalore based SaaS start-up and India’s first home-grown revenue analytics product suite for media and content companies has raised $1.8 Million in a round of financing led by Mela Ventures. Early-stage VC fund and angel platform, 1Crowd, who had led Voiro’s seed round in 2019 has also participated in this round.
Founded in 2014 by Kavita Shenoy, Anand Gopal, Anil Karat and Jithin George, Voiro is a media technology company that is trusted by some of India’s largest media powerhouses.
Voiro engineers innovative products and gives customers instant access to actionable intelligence that matters right now. Voiro’s product suite blends the capabilities of a media specific CRM, a revenue reconciliation engine and deep analytics to power leading OTT players and publishers. A revenue analytics product suite for media and content companies, Voiro unlocks a data driven approach to accelerating revenue. Over the last 6 years, Voiro has become the revenue management partner of choice in the media space, earning their spot in the core technology stack that has driven monetization teams in key media companies and publishers, including marquee live events year after year such as the IPL, the Oscars, Bigg Boss and Flipkart’s Big Billion Day.
This investment strengthens Voiro’s journey as a global SaaS leader in the media tech domain, and joins a wave of B2B SaaS companies from India that are taking their products to the world.
Talking about Voiro’s future plans, Kavita Shenoy, Founder & CEO, Voiro said, “We have always taken pride in our ability to solve monetisation challenges for media teams and the agility of our customer experience. We have been deeply committed to media and technology, spotted trends, ridden the waves of the market and flourished because this has been our vision from Day One. We have come a long way since 2014 and the faith placed in us by our customers, investors, mentors and the larger SaaS community has us poised to place winning bets to be a global leader in the media and SaaS domain. This investment will play a strategic role in driving market expansion internationally, launching Voiro 3.0 and investing strongly in data engineering to showcase a world class SaaS product from India for global media organizations.”
“The rapid and consistent growth in the OTT industry has created a huge potential to monetize and drive more revenues through predictive ad-management. Voiro has already made great inroads by enabling some of India’s digital broadcasters to streamline and enhance their revenue. We see a great potential in the Voiro platform, technology expertise and the solid team behind the product. We are very excited to partner with the Voiro team and look forward to being an integral part of the growth story.”, said Krishnakumar Natarajan, Managing Partner, Mela Ventures.
This is Mela Ventures’ third investment since its first close of the fund in August 2020 and this investment will be instrumental in fuelling Voiro’s growth in key areas around product innovation and international expansion, as they scale to become the go-to solution for monetisation teams at media organisations worldwide.
Anup Kuruvilla, co-founder of 1Crowd, said, “Monetization is a critical need for digital content players. Voiro has developed a high quality product which drives revenue enhancement, using a powerful combination of analytics and automation. With marquee customers in the Indian space, Voiro has the credentials to become a market leader in a high growth segment. We are delighted to reinvest and continue to partner with the dedicated team at Voiro in their journey ahead.”
Co-founded by Krishnakumar Natarajan and NS Parthasarathy, Mela Ventures aims to put Indian B2B SaaS companies that are solving real-world challenges on the global map. They celebrate and support the spirit of entrepreneurship at every stage of the journey. In addition to investment, they also provide guidance and support to achieve collective goals defined by their portfolio companies.
Mela Ventures provides investment, strategy, innovation, research, networking and other mentorships to start ups and next generation entrepreneurs.
1Crowd is an early-stage venture capital fund and an angel platform that offers an institutionalised approach to investing in start-ups. Over the last 5 years, 1Crowd has created a unique ecosystem that brings together accredited investors and mentors with rich experience and expertise, to support founders at various stages of their start-up journey. 1Crowd manages investments of over ₹100 crores in 31 exciting start-ups across sectors ranging from enterprise-tech and deep-tech to B2C. The targeted AUM of its maiden sector-agnostic fund from which it is currently investing is ₹75 crores.
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Tags: DigitalPublishers, E-commerce, Entrepreneurship, Fundraise, Investment, Media & Entertainment, OTT, Revenue Analytics, Start-Up, Team Culture
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