Content monetisation platform ConsCent has raised $1.75 million in a funding round from Inflection Point Ventures.
Other VC and investors including Varanium Capital, RiSo Capital, SucSEED Innovation Fund, Sigurd Ventures, AngelList, PitchRight Ventures, and angels such as Quess Corp’s Vijay Sivaram, former Rivigo Co-founder Gazal Kalra also participated in this round.
The startup will use the funds to invest in Artificial Intelligence (AI) and Machine Learning (ML) tools, hire technology talent to develop in-house technology for content monetization, expand sales and marketing teams.
The New Delhi-based ConsCent was founded in 2020 by Sunny Sen and Sounak Mitra, It is bridging the “reach” gap between content companies and their consumers through easy and frictionless payments, better audience understanding, recommending content to segmented user sets, and delivering personalized messaging and campaigns.
“We are excited about ConsCent’s future, and welcome our new investors. The financing is a validation of ConsCent’s vision to create great monetisation opportunities for media and content companies, and democratise the consumption of premium content through easy one-click payments, better recommendations and intelligent engagement. 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,” said Sunny Sen, CEO and Co-founder of ConsCent
“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 in understand the digital consumer, engage with them in the best way possible, while creating technology solutions that will allow media companies introduce the world’s first intelligent paywall, based user behaviour understanding of who will pay how much, and for what kind of content, whether it is through pay-per-use or subscriptions,” said Sounak Mitra, Founder and COO.
“ConsCent will primarily use the new funding to expand the product. “We will expand our technology team and launch over 15 new products and features over the next 12 months, in the areas of payments, engagement and retention, and design. We are also developing an entirely new AI/ML-based personalisation engine to ensure the highest level of content affinity for each content consumer,” added Sen.
The next six months will be critical for ConsCent as the venture eyes expanding its operations beyond India and deepening its penetration into the Indian subcontinent.
Currently, the company provides technology to India Today Group, Outlook India Group, MidDay, Indian Retailer, Amar Ujala, Tinkle Comics, New Indian Express, and others.
The startup claims to have acquired 5 lakh users on its platform.
“ConsCent’s pioneering approach of pay-per-use subscription model promises to provide premium content and also enables like-minded people to connect, strengthen their partnership and monetise their service,” said, Mitesh Shah, co-founder, Inflection Point Ventures.
ConsCent is bridging the “access” gap between content companies and their consumers through easy and frictionless payments, superior audience understanding, recommending content to segmented user sets, and delivering personalised messaging and campaigns.
ConsCent facilitates a powerful ‘direct-to-consumer’ flow for media, gaming and streaming platforms for maximising revenue through a decentralised network of paying customers. They process over ten million premium content visits every day for some of the world’s largest content platforms. Their innovative event based solution gives product teams the ability to better understand, engage, convert and retain their consumers on both the web and mobile.