Vizury, an India advertising re-targeting company, is preparing to raise $20m in a series C round of funding led by existing investor Inventus Capital Partners, the corporate venturing unit of US litigation and data specialist company Inventus. News of the fundraising was confirmed by the management of Vizury to online news site, TechCrunch.
According to reports, the company has an estimated valuation of between $60m and $70m. It is looking to raise capital so that it can accelerate its business objectives in the China and Japan markets. The management team expects revenue growth to increase there from 20 per cent of 50 per cent if it can get the required funding to meet its objectives in those two Asia markets.
Existing angel investors who led the seed round of funding also continue to remain invested. Prior fundraisings have been allocated to company’s expanding presence across Asia, Australia and South America in addition to stepping up R&D efforts and drive product development.
Its core product, Visitor Relationship Management (VRM), enables eCommerce and online travel companies to harness the full value of their digital data in a structured, multi-phase manner and profit from it, the company claims. VRM is already widely used by global brands including Webjet, Virgin Airlines, Expedia, Zuji, Netshoes, Viajanet, Zozo, Kokuken, Ctrip, Yintai, Jabong, Jet Airways and MakeMyTrip.
The company raised $2m in a series A round of funding in 2010 from Ojas Venture Partners and Inventus. It later raised in 2012, $9m in its series B round in which Nokia Growth Partners, Ojas and Inventus took part, according to news reports.