WittyFeed, one of the largest viral content marketing platforms in the world announced an undisclosed amount of finding raised in a Pre-series A round. The investment round included some of the biggest names in the business and startup circuit in India including, Anand Chandrasekaran, Apurva Chamaria, Ritesh Malik, and other seasoned entrepreneurs and professionals.
Reacting to the investment and support from these prominent names, Vinay Singhal, CEO & Co-Founder, WittyFeed, said, “We are elated on getting acknowledged by some of the best entrepreneurs in the country, who have showed tremendous belief in our business model. We are really excited to welcome on board these able leaders who share the same vision as ours and can add great value to our company.”
The Indore-based company plans to utilise the funds raised to strengthen its technology infrastructure, enhance its distribution platform and augmenting its product portfolio. The funds will also be used to expand their sales team to dive deep into the content-driven platforms and video making for brands while exploring other domains for which WittyFeed has developed marketing platforms.
Founded in 2014, the company claims to have more than 250 million page views per month, an audience reach of over a billion and receives 80 million unique readers and 160 million video views. “WittyFeed is on path to become the world’s largest viral content marketing platform where brands share their stories with their consumers and the distribution is taken care of by WittyFeed’s AI driven platform,” Singhal adds.
Talking about his investment, Apurva Chamaria, VP & Head of Corporate Marketing, HCL Technologies said, “Most brands need help in thinking and executing like a publisher and WittyFeed has emerged as the trusted partner in helping brands chart this journey. He adds, “According to a Group M report released in February, advertising spent on digital media channels is expected to grow 30% to Rs 9,490 crore in 2017. With advertising spends shifting more and more to social & digital mediums, especially towards content & videos, WittyFeed is uniquely placed to attain huge interest from brands and their custodians.”
In the past two years Chamaria has invested in approximately 27 companies including Innov8, Simulanis VR, Lucideus Tech, Chqbook, Ahhaa, and more.
Serial entrepreneur and cofounder of Innov8, Dr Ritesh Malik opined, “WittyFeed holds the potential to become the world’s largest content exchange platform and this investment is more than money to the company. We have also joined the advisory board to support the brand in expanding the operations worldwide with much accessible location around the world.”
Other investors who have joined hands in this round are Ashish Toshniwal (Y Media Labs, CEO), Ajeet Khurana (Angel Investor), Aneil Mahajan (Ex COO, Bhaskar Group), Piyush Goel (Beyond Key Systems Pvt. Ltd., Founder & CEO), Singapore Angel Network, and Harsh Mani Tripathi (Pyoopil Education Technologies, Founder and CEO).
India’s largest and world’s 2nd largest viral content marketing platform, WittyFeed, is looking to further their presence in the US market, which contributes about 30% of the company’s traffic. The categories that they cover are travel, inspiration, relationships, health and fitness, food and celebrities.