Vizury, an online marketing company which provides behavioral retargeting solutions to businesses, has raised a Series B round of funding of $9 million from Nokia Growth Partners (NGP), Ojas Ventures and Inventus Capital Partners. The funds, according to the company, will be used to strengthen its presence across Asia, Australia and South America (where it has operations), and to “step up R&D efforts” and “drive product innovations”. The plans sound pretty boilerplate for $9 million in funding, frankly.
Vizury claims to have witnessed 450% growth over the past year (probably in revenues, though they haven’t specified). Ojas and Inventus had invested an undisclosed amount of money in the company as a part of its Series A funding in February last year. In a note, the company says that its angel investors continue to remain invested. Anupam Rastogi, principal at NGP Advisors India, has joined Vizury’s Board.
What Vizury Does
In simple terms, it creates customized ads that follow you across multiple sites, if you’ve searched for information on, say, an e-commerce portal, and not closed a sale. It serves as a reminder to close the purchase, but can be pretty eerie too, to see an advertisement follow you across the web.
This is called Behavioral Retargeting, and Vizury’s solution (called “Visitor Relationship Management (VRM)”) is used by eCommerce and online travel companies because it tends to result in people closing sales that they had previously abandoned; or so we’re told.
Some of Vizury’s clients include Webjet, Virgin Airlines, Expedia, Zuji, Netshoes, Viajanet, Zozo, Kokuken, Ctrip, Yintai, Jabong, Jet Airways and MakeMyTrip, the company says.
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