Bangalore-based digital CRM firm Vizury today announced a $16 million (Rs 94 crore) Series C funding round led by Intel Capital with participation from Ascent Capital and existing investors, Nokia Growth Partnersand Inventus Capital Partners. This brings the total funds raised by Vizury to $27 million; Ojas Ventures had participated in the two earlier rounds.
Vizury will use the funds for research and development and to scale up operations in markets such as China, Japan, Latin America, Middle East and Korea.
Chetan Kulkarni, co-founder and CEO said "The funds will be used to drive product innovation on our mobile and cross-channel propositions and to scale operations in existing markets, especially in China, Japan, LATAM, Middle East and Korea. We are also evaluating our options of entering the US market."
Vizury, last year, launched a comprehensive mobile advertising retargeting product, MobiConvert, which includes mobile web and app retargeting on both iOS and Android devices and powerful conversion features like app deep linking and click-to-call.
The entire product suite across mobile and desktop is powered by Vizury’s big data platform which processes over 30 terabytes of data daily, including purchase intent data of nearly 500 million users and tens of billion dollars of retail transaction data. Meaningful insights derived from this data is used by Vizury’s proprietary bidding and recommendation algorithms to process over 5 billion daily bid requests to precisely target and engage users with highly personalized 1:1 messages.
"Big data analytics is primed for take-off with the ad-tech ecosystem providing a major impetus," said Sudheer Kuppam, Managing Director, Intel Capital APAC Region. “Vizury understands how data and technology are shaping the consumer marketing & advertising industries and is emerging as a leading player in this sector. Increasing internet penetration across APAC only augments this further. The investment led by Intel Capital will help Vizury take advantage of this big data opportunity."
Vizury was among the first multi-national ad-tech companies to enter China in 2009 where it now has strong advertiser relationships and a high caliber local team.
"Our emphasis, right from day one, on staying invested in challenging markets like China and Japan, and offering deep industry-focused solutions to enterprise clients has helped us get leadership positions in these markets,” Chetan said.
With a 400% CAGR, Vizury is one of the fastest growing tech companies in Asia. A revenue retention rate upwards of 190% demonstrates the consistent business value it delivers to clients.
Raja Kumar, Managing Director, Ascent Capital, added "Vizury, one of the most promising high-technology product companies to emerge out of India, has all ingredients to be a global leader in digital CRM."
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