Bengaluru-based Revenue analytics firm Voiro has raised $1.8 million in a round of financing led by Mela Ventures. Early-stage VC fund and angel platform 1Crowd, that led Voiro’s seed round in 2019, also participated in the latest round of funding. Founded in 2014 by Kavita Shenoy, Anand Gopal, Anil Karat and Jithin George, Voiro’s clientele includes some of India’s largest media powerhouses. It has been built specifically to address the content monetisation space.
Speaking 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.
Recounting Voiro’s phenomenal seven-year journey , Shenoy said that the latest 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 company’s product suite powers media companies to unlock a data driven approach to accelerating revenue. It blends the capabilities of media specific CRM, revenue reconciliation and deep analytics to power leading OTT players and publishers. Over the last few years, the startup has become the revenue management partner of media companies which uses its services for live events like the Indian Premier League, the Oscars, Bigg Boss and Big Billion Day.
“The rapid and consistent growth in the OTT industry has created a huge potential to monetize and drive more revenues through predictive ad-management. 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.
Notably, 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.
Underscoring the importance of revenue system for digital content players, 1Crowd co-founder Anup Kuruvilla 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.”