Bangalore based Ad-retargeting startup, Vizury has raised Rs.94 Cr in a new funding round led by venture capital arm of world’s biggest chip-maker, Intel Capital in third round of funding with participation of Ascent Capital.
Its existing investors Nokia Growth Partners and Inventus Capital Partners also participated in this round.
Vizury was founded by Chetan Kulkarni, Gaurav Chindlur and Vikram Nayak, it offers digital marketing technology solutions. Vizury provides Visitor Relationship Management (VRM), a retargeting solutions and works with online brands in 27 countries across industries such as travel & hospitality, eCommerce, healthcare, automobile, and classifieds. It processes over 30 terabytes of data daily, including purchase intent data of nearly 500 million users.
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The 6 year old startup is now evaluating its options to enter the US market. The funds raised in this round will be deployed by Vizury in research and development and to scale up operations in markets such as China, Japan, Latin America, Middle East and Korea.
Previously, Vizury had raised $ 2Mn in Series A led by Ojas Venture Partners and Inventus in 2010 and later in 2012 Nokia Growth Partners, Ojas Venture Partners and Inventus Capital Partners had invested $ 9 Mn in it. Thus taking the total funding raised by it to $ 27 Mn i.e. Rs.160 Cr.
According to research firm, Gartner, Global mobile advertising spending is expected to reach $41.9 Bn by 2017, which is $18 Bn, thus a huge opportunity for the startups like Vizury.
The development was first reported by ET.
Have a look at this infographic about Vizury’s success story!