Mumbai-based digital advertising firm, Komli Media has spun out RevX, a company which will focus on mobile app re-engagement for marketers. The new company, RevX has raised $4 million from Komli’s existing investor Norwest Venture Partners, Nexus Venture Partners, Helion Venture Partners, Draper Fisher Jurvetson, and Peepul Capital.
RevX will be headed by Mukesh Agarwal as CEO and Ruksh Chatterji as COO. Agarwal will be responsible for RevX’s overall business strategy, product and technology while Chatterji will be in-charge of its overall business operations. Chatterji previously managed Komli’s India business and was also serving as vice-president of its RevX business. Agarwal was associated with RevX for the past three years, and was looking after Komli’s product and engineering division.
The spun off company is starting with over 30 customers, will initially focus on helping mobile businesses grow engagement and revenue through its data-driven, predictive advertising software that enables 1-to-1 marketing based on deep insights into consumer’s behaviours.
This is the second spin-off from Komli Media. In late 2008, the company had hived off Pubmatic which provides a marketing automation platform to premium publishers. Earlier this month, Malaysia’s Axiata group had also acquired Komli Media’s South East Asia operations for $11.5 million which included the company’s operations in Hong Kong, Thailand, Singapore, Vietnam, Philippines, Indonesia and Malaysia.
In March, Snapdeal was also in talks to acquire Komli Media in a deal that values the ad technology company at about $300 million, although a Snapdeal spokesperson had denied this development to ET.
Founded in 2006, Komli has already raised $97 million in five rounds from investors including Nexus Venture Partners and Peepul Capital. It employs nearly 300 people across India.
The company works as a digital advertising network — buying and selling advertising inventory online in Asia Pacific.Category Business