Instamedia closes $4 mn Series A investment from The Times of India Group

Instamedia closes $4 mn Series A investment from The Times of India Group

Author | exchange4media News Service | Friday, Sep 10,2010 8:00 AM

Instamedia closes $4 mn Series A investment from The Times of India Group

Instamedia Network, one of the leading content network and creators of Software as a Service (SaaS) based content platform, Instapress, has secured $4 million in Series A funding from Times Internet Ltd, a subsidiary of The Times of India Group. The investment comes after a year of considerable growth in audience, technology, and revenue.

The proceeds of the strategic investment will help grow the company’s network of writers and accelerate its technology platform development. The company also plans to launch local sites, targeting the European and US audiences, which already drive over 60 per cent of its traffic.

Instamedia runs some of the fastest growing Internet sites in verticals such as lifestyle, green living and technology. In addition, it claims to have over 4 million monthly unique visitors for its popular citizen journalism platform, Instablogs. Together, these 15 sites drive an affluent and passionate community and offer advertisers a great way to connect with their audience.

The in-house proprietary platform Instapress, which drives accountable and measured return on its content, has been one of the key drivers of its growth. Instapress implements efficient workflows to streamline collaboration between various content contributors, with objective measurement tools to track effectiveness.

The company is also launching its fully hosted content solution, called 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 the India’s top media and entertainment companies.

“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,” said Satyan Gajwani, Director of Business Development, Times of India Group.

“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 honoured to have Satyan Gajwani join our Board of Directors. It will be a challenge for us to meet his energy and passion,” said Ankit Maheshwari, CEO and co-founder of Instamedia network.

Instamedia has recently opened its second office in Noida as its scales up its operations.

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