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Saavn raises $100M from Tiger Global and others; to expand in the entertainment category?

Music streaming service Saavn has raised Series C funding worth $100 million led by Tiger Global, with participation from existing investors Bertelsmann India Investments, Steadview Capital, Liberty Media, and Mousse Partners. The company also added new investors Quilvest, a Hong Kong-based hedge funds company, and a group of strategic individuals in this round. Saavn will use the funds for product development, customer acquisition, investing in its proprietary ad technology, adding to its sales team and new content deals. Saavn says that it is working with Microsoft to launch a Windows version next month. With the funding, it also announced updates to its mobile apps which include personalised multi-language homescreen which supports 11 languages, one click play, trending content, charts and music tagging and music chat. Rishi Malhotra, cofounder and CEO of Saavn, hinted in a statement that there is a…

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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