Mumbai-based APAC’s digital media technology company, Komli Media has spun out its integrated cross-channel CRM platform RevX, as a new company focusing on mobile app re-engagement opportunities globally.
The new enterprise already has over 30 customers and secured $4 Mn (INR 26.4 Cr) in funding from Komli’s existing investors Norwest Venture Partners, Nexus Venture Partners, Helion Venture Partners, Draper Fisher Jurvetson and Peepul Capital.
RevX will be headed by Mukesh Agarwal as CEO and Ruksh Chatterji as COO. Agarwal has been associated with RevX for the past three years and will be responsible for the overall business strategy, product and technology. Chatterji, who earlier managed Komli’s India business, will manage overall business operations at RevX.
Mukesh Agarwal, CEO at RevX said, “Marketers are spending a lot of money on driving mobile app installs but user engagement and retention continues to remain a major challenge. An average consumer can have only so many apps on their smartphones, and marketers run the risk of high churn if they don’t reinforce the value of their app post-install and build the engagement. Our goal is to offer innovative products to help marketers to solve user retention and engagement problem.”
RevX will initially focus on helping mobile businesses grow engagement and revenue through its data-driven, predictive advertising software that enables one-to-one marketing based on insights into consumer’s behaviours. The enterprise differentiates its product by offering transparent advertising software with a self-serve offering, apart from a more traditional managed service.
According to Amar Goel, Founder and CEO, Komli Media, RevX has built a core set of performance advertising technologies in the fast growing programmatic and mobile advertising space. Now that RevX has seen strong traction in India and Southeast Asia region the company is set to run after a much larger global opportunity.