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Matrix Parners Infuses Rs. 200M In OnMobile Incubated Ver Se

matrixonmBangalore-based mobile firm Ver Se’ Innovations has raised Rs. 200 million from venture capitalist Matrix Partners India, which has backed the likes of Quikr.com, a local classifieds site for apartments, cars, jobs, services, used goods ads etc and ItzCash Card, an e-commerce firm.

Ver Se’ offers classifieds on mobile for jobs, retail and matrimony. The one active service we found was Joberix.com which claims to aggregate 5.6 million jobs from incumbent job portals such as Naukri.com, TimesJobs.com, Clickjobs.com and MonsterIndia.com. The company will invest in scaling operations and infrastructure, on products and new business models. Given that Ver Se appears to essentially provide vertical search services, there appears to be synergy with general classifieds business Quikr which should be looking at mobile for scale.

Joberix allow users to filter their search queries, and encourages users to add more details to search in order to improve specificity of results.

OnMobile Incubated Ver Se

VAS firm OnMobile incubated and funded Ver Se’, and according to OnMobile’s Annual Report, the company acquired 51% equity stake in the company in July 2007 for Rs. 22 millioncommitting Rs. 66 million via equity and debt instruments such as optional convertible preference shares and term loans. It also has an international distribution partnership with Ver Se’. With this round of funding, OnMobile Chairman and CEO Arvind Rao is joining the board of Ver Se’ as is Rishi Navani, co–founder and Managing Director of Matrix India.

We’re awaiting a response from Matrix Partners’ Avnish Bajaj, and will update when we have more inputs.

(With inputs from Nikhil Pahwa)


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