Sourav Ganguly-backed curated video platform Flickstree recently announced that it has raised $3mn in Series A funding round. The funding was led by Samsung Venture Investment Corporation along with LionRock Capital and Accretio Investments. Angle investor LD Sharma and existing investors like Venture Catalysts and MOX Accelerator also participated in the round.
The company plans to use these funds to further develop proprietary technology and video context. The company is also eyeing on international markets, particularly Southeast Asia.
Founded by Saurabh Singh, Rahul Jain, and Nagender Sangra in 2016, Flickstree is an AI-enabled video publisher network that seeks to increase user engagement within websites and apps. The company creates and aggregates video content, and embeds these videos within its publisher partners. The company currently claims to have more than 15min users.
“Indian Internet users are growing fast and online video consumption has grown from zero to 60% of all Internet traffic in India. All apps and websites now want to show videos to their users, if they need to survive. We help to bridge this gap. Not only does video content increases user engagement, but it also allows our publisher partners to earn more revenues without making any additional effort,” said Saurabh Singh, CEO, and Co-Founder of Flickstree.
Prior to the funding round, Flickstree had raised seed funding from Venture Catalysts, The Angel Network, Keiretsu Forum, cricketer Sourav Ganguly and SOSV. The company is also backed by Facebook via its FBStart program.
Talking about the investment, William Bao Bean, Partner at SOSV and MD at MOX accelerator said, “Flickstree leverages its massive network of content creators and studios and tech-driven personalization to deliver great content to users and recurring revenues to partners.”
“Video-led affiliate commerce is the next big thing and with the proper use of technology, it can bring the right products in front of the right users. I strongly believe that performance marketing using videos will change the way industry has been operating for decades and will bring in much more value for all stakeholders involved” said LD Sharma, CEO, and MD of Optimise Media Group.
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