ConsCent, an Indian start-up that provides monetisation diversification technology to power reader revenue funnels for news, OTT, and other content platforms, raised a total of Rs 13.26 crore in a bridge round. The round was led by Inflection Point Ventures. The round also witnessed the participation of early-stage funds like Varanium Capital, RiSo Capital, SucSEED Innovation Fund, Sigurd Ventures, Startup Angels Network, AngelList, PitchRight Ventures, and angels like Quess Corp’s Vijay Sivaram, Droom’s Sandeep Aggarwal, former Rivigo Co-founder Gazal Kalra, among others.
This is the ConsCent’s second round since it raised a seed capital of Rs 4 crore in August 2020, from AngelList, WhiteBoard Capital, PitchRight Ventures; and marquee angels like Paytm’s Vijay Shekhar Sharma, Innov8’s Ritesh Malik, Droom’s Sandeep Agarwal, BharatPe’s Suhail Sameer, and Mamaearth’s Varun Alagh, alongside others who continue to support the idea and commit to empowering the content ecosystem in India.
Former journalists Sunny Sen and Sounak Mitra founded ConsCent to bridge the gap between access and digital payments for premium content. The company has since evolved into the world’s first integrated solution that provides content companies with 360-degree insight into consumers and converts scrolling moments into revenue.
“We are excited about ConsCent’s future, and welcome our new investors. The financing is a validation of ConsCent’s vision to create great monetisation opportunities for media and content companies and democratise the consumption of premium content through easy one-click payments, better recommendations, and intelligent engagement. We see this as a multi-billion opportunity as we pioneer the concept of pay-per-use to subscription, coupled with ML-driven recommendations, and intelligent paywalls and engagement,” said Sunny Sen, CEO and Co-founder of ConsCent
“With this funding, ConsCent will be able to achieve faster speed-to-market as we expand our technology and sales teams. ConsCent will use the funding to build futuristic tech solutions that will help media companies understand the digital consumer, engage with them in the best way possible while creating technology solutions that will allow media companies to introduce the world’s first intelligent paywall, based on user behaviour understanding of who will pay how much, and for what kind of content, whether it is through pay-per-use or subscriptions,” said Sounak Mitra, Founder and COO.
ConsCent will primarily use the new funding to expand the product. “We will expand our technology team and launch over 15 new products and features over the next 12 months, in the areas of payments, engagement and retention, and design. We are also developing an entirely new AI/ML-based personalisation engine to ensure the highest level of content affinity for each content consumer,” added Sen.
The next six months will be critical for ConsCent as the venture eyes expanding its operations beyond India and deepening its penetration into the Indian subcontinent.