Delhi-based SlideApp, a lock screen app that awards Android users for reading content, has raised $3.6 Mn Series A funding. The round was led by Songhyun Investment, a leading South Korean VC firm. The app had previously raised $1.2 Mn as Seed funding.
The company will use the newly raised funding to scale its user base, develop products, and strengthen its brand presence in the market. It will also use part of the funding to further develop the platform in order to make it more and more innovative and user-friendly.
Commenting on the company’s vision, Amrita Gujral, co-founder and India Business Head said, “Our aim is to improve and enhance the experience of existing users and constantly focusing on acquiring new users. We will continue to multiply our outreach as much as we can and build upon providing value to our users. Also, relentless support to advertisers in ways that result in maximum conversion for them is our endeavour.”
Founded in November 2015 by Amrita Gujral and Nakul Sethi, the app is an infomercial platform where curators, publishers, and advertisers come together to offer the user the best as per user’s category of interest. The app claims to have over 5 Mn downloads.
The mobile media platform incentivises its mobile users by awarding credit points every time they read content customised to their preference. The reward points accumulated can then be further utilised for mobile recharges. The app also doubles as a new age advertising tool which allows it to cater to the B2B segment.
SlideApp is an initiative of 42 Company, supported via Seoul for all of its tech development and investment, and spreads its wings across borders for an overseas presence in addition to India.