Ad firm Komli Media gets Rs 217 cr funding for expansion

Media technology company Komli Media on Tuesday said it raised $ 39 million in a new round of investment led by Norwest Venture Partners, which will help it expand its presence and strengthen its technology platform.

Norwest Venture Partners, an already existing investor, led the current round of investment, along with

Helion Venture Partners, Draper Fisher Jurvetson, and Western Technology Investment, it said in a statement.

[caption id=“attachment_340818” align=“alignleft” width=“380” caption=“This financing will help Komli expand and invest in technology. Reuters”]  [/caption]

“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 return on investments (ROI) for advertisers and yield for publishers,” the company’s chief executive Prashant Mehta said.

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Komli Media- which offers solutions across display, mobile, video, social, search and data for advertisers, agencies, and publishers - claimed it has grown 150 percent annually since 2009. It now has 5,000 publishers over 5,000 leading publishers including exclusive relationships with Facebook and MSN and reaches 270 million users monthly, servicing 1,000 advertisers.

PTI