Bengaluru-based SaaS startup Voiro has raised $1.8 million in a round of financing led by Mela Ventures. Early-stage VC fund and angel platform, 1Crowd, who had led Voiro’s seed round in 2019, has also participated in this round.
Founded in 2014 by Kavita Shenoy, Anand Gopal, Anil Karat and Jithin George, Voiro is a media technology company, Voiro said in a release.
Voiro’s product suite blends the capabilities of media specific CRM, revenue reconciliation and deep analytics to power leading OTT players and publishers. A revenue analytics product suite for media and content companies, Voiro unlocks a data driven approach to accelerating revenue.
Over the last 6 years, Voiro has become the revenue management partner of choice in the media space, earning its spot in the core technology stack that has driven monetisation teams in key media companies and publishers, including marquee live events year after year such as the IPL, the Oscars, Bigg Boss and Big Billion Day.
This investment strengthens Voiro’s journey as a global SaaS leader in the media tech domain, and joins a wave of B2B SaaS companies from India that are taking their products to the world.
Voiro Founder and CEO Kavita Shenoy said, “We have always taken pride in our ability to solve monetisation challenges for media teams and the agility of our customer experience.”
It has come a long way since 2014. This investment will play a strategic role in driving market expansion internationally, launching Voiro 3.0 and investing strongly in data engineering to showcase a world class SaaS product from India for global media organisations, the release added.
“The rapid and consistent growth in the OTT industry has created a huge potential to monetize and drive more revenues through predictive ad-management,” Mela Ventures Managing Partner Krishnakumar Natarajan.
Voiro has already made great inroads by enabling some of India’s digital broadcasters to streamline and enhance their revenue, he added.
This is Mela Ventures’ third investment since its first close of the fund in August 2020, and this investment will be instrumental in fuelling Voiro’s growth in key areas around product innovation and international expansion, as they scale to become the go-to solution for monetisation teams at media organisations worldwide.
1Crowd Co-founder Anup Kuruvilla said, “Monetisation is a critical need for digital content players. Voiro has developed a high quality product which drives revenue enhancement, using a powerful combination of analytics and automation. With marquee customers in the Indian space, Voiro has the credentials to become a market leader in a high growth segment.”