[Press Release]
Komli Media, Asia Pacific’s leading digital media network, announced today that it has raised USD 15 million in funding led by Norwest Venture Partners (NVP). Existing investors, Nexus Venture Partners and Helion Venture Partners, also participated in this round. The additional capital will be used to fuel aggressive expansion throughout India and across its key markets in Asia Pacific.
The Company will further invest in its two core businesses – the Digital Media Network and the Audience Measurement unit – which are experiencing significant growth.
In 2010, Komli Media’s business grew over 600% while its employee base grew to 115, from 51 at the start of the year. Last year, Komli Media began its expansion across Asia Pacific by acquiring PostClick, Australia’s leading site representation firm.
In October the Company further expanded to international ethnic markets with its acquisition of Indoor Media. With capabilities across brand solutions and performance marketing, Komli Media is Asia Pacific’s leading digital media network.
Amar Goel, Founder & Chief Executive Officer, Komli Media, said,
“We were drawn to NVP because it is a global, top tier investment firm with deep domain knowledge in the online advertising sector. Furthermore, NVP’s powerful network of relationships in India and abroad will be of great value to Komli Media as we expand our offerings and services to other markets. We look forward to closely partnering with NVP to take our company to the next level.”
Komli Media’s digital media network represents more than 2,000 websites today, including sites such as Facebook, Babycenter and Bloomberg, reaching more than 45 million unique users across a number of categories and regions.
The company also owns and operates ViziSense, India’s first and leading online audience and ad measurement platform. ViziSense is now being launched in Australia to tap the growing needs for cutting edge audience measurement from digital marketers and publishers.
Niren Shah, Managing Director, NVP India, joins Komli Media’s board of directors as part of today’s announcement. He commented,
“NVP is excited about the potential of early and late stage Internet investments in India, and Komli is the perfect addition to our robust global Internet portfolio. Komli Media’s highly experienced management team, significant level of technical expertise, and strong operational and financial performance made our decision to invest in the company an easy one. We look forward to working with Komli Media and supporting the team as it innovates in unique ways that will cement its position as a market leader in the rapidly evolving Indian and Asia Pacific digital market.”
Prashant Mehta, Chief Operating Officer of Komli Media added,
“As Komli Media expands its core operations in the fast growing Asia Pacific markets with a digital market size of more than USD 3 billion, we plan to leverage this funding to double our investment in our key products and platforms as well as scale our organization across sales and marketing.”
He further added, “As we make these investments, we look forward to thought leadership and strategic guidance from the NVP team.”
