Convosight is building a monetisation ecosystem for community creators on platforms like Facebook Groups, Reddit, and Discord so that creators can partner with brands and sustainably monetise their communities. The startup claims to have recorded 10x user growth within the last 15 months.
Over the last 12 months, there has been a 25x jump in earnings for community creators via Convosight — with close to $1 million in total payouts, the company claimed.
“The top categories of communities and brands that are collaborating and engaging in community marketing via Convosight are parenting, cooking, beauty & makeup, health & nutrition as well as women-focused groups. Besides opportunities for brand collaborations, our product offers community creators tools to understand growth trends and conversational insights, control spam, and run their independent brand collaborations. Today we have more than 300 million members in managed communities who are eyeing a potential market opportunity of close to 1.8 billion users across Facebook, Reddit and Discord,” said Tarun Dhamija, co-founder, Convosight, in a statement.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India from June 10-14, 2021.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry||Verticals|
|Convosight||Delhi||9 million||Series A||Qualgro Venture Capital||Unilever Ventures, Ajay Gupta, IvyCap Ventures, Sequoia Capital India’s Surge||Software||SaaS|
|SimpliContract||Bengaluru||1.8 million||Seed||Kalaari Capital||Picus Capital, Arka Ventures, Digital Sparrow Capital||Software||SaaS|
|Licious||Bengaluru||65 million||Series F||Multiples Alternate Asset Management||Brunei Investment Agency, Vertex Ventures, Bertelsmann Netherland, 3one4 Capital, Akshay Ghulati, Narshing Dass Makkar||Food||E-commerce|
|Jumbotail||Bengaluru||4.6 million||Debt||Alteria Capital||-||Retail||E-commerce|
|Byju's||Bengaluru||340 million||-||UBS Group, Blackstone, Eric Yuan, ADQ, Phoenix Rising||-||Education/Training||EdTech|
|Eightfold AI||Noida||220 million||Series E||SoftBank Vision Fund 2||General Catalyst, Capital One Ventures, Foundation Capital, IVP, Lightspeed Venture Partners||Software||AI and Machine Learning|
|Slintel||Bengaluru||20 million||Series A||GGV Capital||Accel, Sequoia Capital India, Stellaris Venture Partners||Software||Sales & Marketing Software|
|Dropshop||Bengaluru||1.3 million||Pre-Series A||Inflection Point Ventures||Axilor Ventures, The Chennai Angels||Logistics/Distribution||-|
|BonAyu Lifesciences||Bengaluru||1.3 million||-||-||-||Pharmaceuticals||Fitness & Wellness|