Shimla: Instamedia Network, a Shimla based startup, which runs the Instablog and Instapress today announced that it has secured $ 4 million in series A funding from Times Internet Ltd, a subsidiary of Times Of India group.
A company spokesman said the funding has come after a year of considerable growth in audience, technology and revenue. He said the investment will help grow the company’s network of writers and accelerate it’s technology platform development. The company also plans to launch local sites targeting the European and US audiences which already drives over 60% of the traffic, he added.
Satyan Gajwani, Director of Business Development, Times of India Group said, ‘We are excited at the opportunity to help new, emerging media companies develop their businesses and grow the space. The entire Instamedia team has amazed us with their drive, creativity, and clarity, and we are confident that they will continue to create a large presence in the digital content ecosystem globally.’
Ankit Maheshwari, CEO and co-founder of Instamedia network said, ‘The Times Group will be a great long-term, strategic partner. They understand this space very well and bring a lot of experience and expertise to the table. We are also honored to have Satyan Gajwani join our Board of Directors. It will be a challenge for us to meet his energy and passion.’
Instamedia is an end-to-end provider of online media production and distribution solution for media houses through its SaaS based cloud service. It has been at the forefront of the new media revolution by constantly evolving to match today’s substantial shift in content creation.
The network runs sites in verticals like lifestyle, green living and technology. In addition, its popular citizen journalism platform Instablogs has over 4 million monthly unique visitors. Together, these fifteen sites offer advertisers a great way to connect with their audience.
The company also has an in-house platform Instapress, which streamlines collaboration between various content contributors, with objective measurement tools to track effectiveness.
The company is launching its fully hosted content solution, Instapress Content Server (ICS), which will allow other media networks to use the technology to drive greater ROI and performance from existing content production teams. Instapress currently powers a few popular sites of one of India’s top media & entertainment companies.
Instamedia recently opened its second office in Noida to scale up operations.