ConsCent, an Indian start-up that gives monetisation diversification expertise to energy reader income funnels for information, OTT, and different content material platforms, has raised a complete of Rs 13.26 crore in a bridge spherical. The spherical was led by Inflection Point Ventures. The spherical additionally witnessed the participation of early-stage funds like Varanium Capital, RiSo Capital, SucSEED Innovation Fund, Sigurd Ventures, Startup Angels Network, AngelList, PitchRight Ventures, and angels like Quess Corp’s Vijay Sivaram, Droom’s Sandeep Aggarwal, former Rivigo co-founder Gazal Kalra, amongst others. This is ConsCent’s second spherical because it raised a seed capital of Rs 4 crore in August 2020.
The financing is a validation of ConsCent’s imaginative and prescient to create nice monetisation alternatives for media and content material firms and democratise the consumption of premium content material by simple one-click funds, higher suggestions, and clever engagement, Sunny Sen, CEO and co-founder, ConsCent, mentioned. “We see this as a multi-billion opportunity as we pioneer the concept of pay-per-use to subscription, coupled with ML-driven recommendations, and intelligent paywalls and engagement,” he added.
ConsCent will primarily use the brand new funding to increase the product. The firm plans to increase its expertise crew and launch over 15 new merchandise and options over the following 12 months, within the areas of funds, engagement and retention, and design.
ConsCent offers micropayment to subscriptions stack with best-in-class analytics and engagement instruments. Built on prime of a common login and interoperable cost mechanism, it helps content material firms get extra paying customers and convert them over time into long-term subscribers, and handle their renewals. The ConsCent login system permits customers to binge-pay for premium content material on all its community companions with out having to repeatedly or individually log into them – with out shedding any knowledge. Digital information publishers and OTT gamers can use ConsCent to diversify their content material monetisation funnels past adverts and subscriptions by establishing a powerful “direct-to-consumer” journey. Some of ConsCent’s current companions embody India Today Group (India Today, Cosmopolitan, and Business Today), Outlook India Group (Outlook India and Outlook Business), MidDay, Indian Retailer, Amar Ujala, Udayavani, Amar Chitra Katha, EPIC On, Tinkle Comics, and New Indian Express.
Former journalists Sunny Sen and Sounak Mitra based ConsCent to bridge the hole between entry and digital funds for premium content material. The firm has since advanced into an built-in resolution that gives content material firms with 360-degree perception into shoppers and converts scrolling moments into income. “With this funding, ConsCent will be able to achieve faster speed-to-market as we expand our technology and sales teams. ConsCent will use the funding to build futuristic tech solutions that will help media companies understand the digital consumer, engage with them in the best way possible while creating technology solutions that will allow media companies to introduce the world’s first intelligent paywall, based on user behaviour understanding of who will pay how much, and for what kind of content, whether it is through pay-per-use or subscriptions,” Sounak Mitra, founder and COO, ConsCent mentioned.
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Source: www.financialexpress.com”