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Komli Media Raises $15 M From Norwest, Existing Investors; $1.5 M Loss In FY10

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Online ad network Komli Media has raised $15 million in funding led by Norwest Venture Partners (NVP), with existing investors, Nexus Venture Partners and Helion Venture Partners, also participating. Niren Shah, MD at NVP India, has joined Komli Media’s board of directors. This fund raising follows the $6 million the company had raised in July 2010.

Komli owns two businesses – audience measurement business (Vizisense), and the digital ad network (Komli). On the back of an improving advertising market, Komli claims that its business grew 600% in 2010, and expanded its employee base to 115 from 51. Some of this growth came by virtue of its expansion in the Asia Pacific market, wherein it acquired site representation business PostClick in Australia, and Indoor Media in the UK. Komli claims to represent over 2000 websites in India, reaching 45 million unique users.

Incurred A Rs. 6.81 Crore Loss In FY10

To be honest, we know very little about how exactly Komli Media is doing as a business: in the past, their management has declined to share any specifics on their financial performance, their advertiser base, or even specific investment plans.

We do now have a sense of how their Indian business did during the 2009-10 fiscal, and it doesn’t paint a pretty picture: according to Komli Media’s filing with India’s Registrar of Companies, for the year ending March 31st 2010, the company earned an income of Rs. 8,61,90,217, and incurred a loss of Rs. 6,81,70,538 (approximately $1.5 million). During the year, Komli reported foreign exchange earnings of Rs. 1,58,72,240, and outgo of Rs. 3,73,45,360.

It’s likely that this accounts for most of Komli’s total business during FY10, since its international expansion began only in June 2010 with the acquisition of PostClick. FY11 has seen the online advertising market in India recover, and Komli’s audience measurement system, Vizisense, has also gone paid. One might just see an improvement in revenues, though the increase in headcount at Komli might impact profitability.

Related:
Komli Media Acquires Australian Site Rep Firm PostClick For Market Entry
Komli COO Prashant Mehta On PostClick Acquisition; Vizisense To Go Freemium
Ad Network Komli Media Raises $6 Million In Funding For AsiaPac Expansion
Vizisense Launches Paid Features In India; Appoints Australia MD
Buying To Sell? Komli Acquires UK Online Marketing Co Indoor Media

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