RevX raises $4M after spin-off from Komli
Mumbai-based digital media technology company Komli Media India Pvt Ltd has spun out its integrated cross-channel CRM platform RevX into a separate company to focus on app re-engagement opportunities globally.
RevX has secured $4 million in funding from Komli's existing investors Norwest Venture Partners, Nexus Venture Partners, Helion Venture Partners, Draper Fisher Jurvetson and Peepul Capital, Komli said in a statement.
The new company, which is starting off with 30 customers, will be headed by Mukesh Agarwal as CEO and Ruksh Chatterji as COO. Agarwal, who has been associated with RevX for the past three years, will be responsible for overall business strategy, product and technology. He had joined Komli from fashion e-tailer Jabong where he led the apparels business.
Chatterji, who previously managed Komli's India business, will be in-charge of overall business operations. It will initially focus on data-driven, predictive advertising software that enables one-to-one marketing based on consumer behaviour, as per a press statement.
"Marketers are spending a lot of money on driving mobile app installs but user engagement and retention continues to remain a major challenge. An average consumer can have only so many apps on the smartphones, and marketers run the risk of high churn if they don't reinforce the value of their app post-install and build the engagement. Our goal is to offer innovative products to help marketers solve the user retention and engagement problem," Agarwal said.
RevX was launched in September 2014 by Komli as a platform that enables marketers to leverage consumer insights across the web and mobile to reach users across devices. Along with this platform, the company had introduced Facebook's Custom Audiences and Website Custom Audiences capabilities which allowed marketers to leverage CRM data such as e-mail IDs and phone numbers to run cross-device campaigns on the social networking giant. Additionally, marketers could also run display and mobile remarketing campaigns to achieve their end goals of driving transactions and app installs for higher user engagement.
The new enterprise claims that it will offer a transparent advertising software with a self-serve offering, apart from the traditional managed services piece. "We believe the arbitrage game played by our competitors is going to be short-lived, as marketers seek greater transparency in terms of where their money is being spent, at what price media is actually being bought and the business outcomes such campaigns are delivering." said Chatterji.
Earlier this month, a unit of Malaysian telecommunication giant Axiata Group had acquired the Southeast Asian operations of Komli for $11.25 million. In a regulatory filing, Axiata said its arm Adknowledge Asia Pacific Pte Ltd has entered into a sale and purchase agreement to acquire Komli's operations in Singapore, Thailand, Vietnam, Philippines, Indonesia, Malaysia and Hong Kong.