Qoruz, an influencer marketing and intelligence platform, has announced the successful closure of its seed round of an undisclosed amount.
The funding round saw participation from investor network Dexter Angels and angel investors like IIM Indore and Ideotic Media. The undisclosed investment amount will enable Qoruz to further scale influencer marketing opportunities for brands and agencies across its network, informed an official statement.
Founded in 2016, the bootstrapped company claims a database of over 4 lakh creators and annual revenue of Rs.34 crore. It also claims to have been profitable since inception.
Qoruz currently offers two core solutions for brands and agencies: Business Suite and Creator Marketplace.
Qoruz Business Suite addresses CMOs’ influencer marketing challenges, providing insights on influencer engagement, audience data and campaign effectiveness. The Creator Marketplace serves as an open platform where brands can post campaign briefs, allowing creators to connect directly with brands based on requirements.
Praanesh Bhuvaneshwar, Co-founder and CEO, Qoruz, said, “Despite brands contributing to 80 percent of creators’ revenue, the collaboration process between brands and creators has often been broken and disjointed. Our vision is to revolutionise this landscape by creating the largest creator network where creators including long tail can collaborate with brands to monetise their content and audience.”
“Influencer marketing was in its nascent stage when Qoruz began its journey. Brands were engaging with only a handful of top influencers without leveraging data-driven approaches. This funding represents a crucial milestone in our mission to transform the influencer marketing landscape in India, facilitating stronger brand-creator partnerships and empowering content creators to excel in the digital era,” added Prabakaran B, Co-founder and CTO, Qoruz.
“Creator economy is resulting in creation of new value and fuelling a lot of micro entrepreneurs to start on their own. Brands today want to connect with these influencers and this channel is only going to grow stronger as brands search for better ways to engage with their customers. At Dexter Angels we are excited about new business models emerging in the creator economy. Qoruz’s platform and SaaS approach helps brands and content creators to engage transparently, and drive data-backed campaigns. We are excited to partner with Praanesh, Prabakaran and the entire Qoruz team as they look to revolutionise the creator economy space in India and globally”, said, Dexter Angels in a statement on the investment.
The funding from this round will be utilised for investments in technology and market expansion, the statement added.
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