Komli Media Raises About $14.6 Million
Date: Thursday , February 03, 2011
Komli Media raised about $14.6 million in a funding round led by Norwest Venture Partners. With the funding, the company is planning an expansion in its technology portfolio, to expand further throughout India and across its key markets in the Asia Pacific, and to invest in its two core businesses, the ad network and audience measurement business. Komli is also in the process of strengthening its sales team, so that it would help them to reach out to the Middle East and South East Asian markets.
The Indian ad network market which is currently a $220 million market and it is growing in a very high rate of 35 percent annually. "If one is mulling for short-term results then the market won't be much of a lure. We think long term and hence, there are lots of opportunities. Within four years in 2010, we have grown 600 percent year-on-year compared to 2009," says Prashanth Mehta, Chief Operation Officer of Komli Media. Last year the company has expanded itself in the Asia Pacific, European and Australian regions. "We have grown from two people working from home to a 115 people team within seven offices spread across Mumbai, New York, Toronto, Palo Alto and New Delhi," says Goel.
Apart from Norwest Venture Partners, their existing investors Draper Fisher Jurvetson India (DFJ), Helion Venture Partners, and Nexus Venture Partners also participated in the funding round. These three investors had previously invested about $6 million in the company.