Instamedia gets US $4 million funding from Times Internet

by CXOtoday Staff    Sep 09, 2010

InstamediaFundingInstamedia Network, a content network and creator of software as a service (SaaS) based content platform, Instapress, announced that it has secured US $4 million in Series A funding from Times Internet Limited, a subsidiary of The Times of India Group. This funding 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 percent of their traffic.

Instamedia’s network runs Internet 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 an ideal way to connect with their audience.

The in-house proprietary platform Instapress, which drives accountable and measured return on its content without compromising quality, has been one of the key drivers of its growth. Instapress implements 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.

“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 honored 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, a suburb of New Delhi, as they scale up operations.