RevX launches to focus on mobile advertising, raising $4M
RevX, a new company focusing on mobile app re-engagement globally has been launched , with over 30 customers and with $4M in funding. RevX was conceived and incubated by Komli Media, APAC's leading digital media technology company, and is now being spun out. The new company will be headed by Mukesh Agarwal and Ruksh Chatterji, in the CEO and COO roles, respectively. Mukesh has been associated with the RevX for the past 3 years, and will be responsible for the overall business strategy, product and technology. Ruksh, who previously managed Komli's India business, will be in-charge of overall business operations.
RevX will initially focus on helping mobile businesses grow engagement and revenue through its data-driven, predictive advertising software that enables 1-to-1 marketing based on deep insights into consumer's behaviours.
"Marketers are spending a lot of money on driving mobile app installs but user engagement and retention continues to remain a major challenge. An average consumer can have only so many apps on the smartphones, and marketers run the risk of high churn if they don't reinforce the value of their app post-install and build the engagement. Our goal is to offer innovative products to help marketers solve the user retention and engagement problem." said Mukesh Agarwal, CEO, RevX.
RevX will differentiate its product from other global competitors by offering a fully transparent advertising software with a self-serve offering, apart from a more traditional managed service, "We believe the arbitrage game played by our competitors is going to be short-lived, as marketers seek greater transparency in terms of where their money is being spent, at what price media is actually being bought and the business outcomes such campaigns are delivering." said Ruksh Chatterji, COO, RevX.
Explaining the launch of the new entity, Amar Goel, Founder and CEO, Komli Media said, "RevX has built a core set of performance advertising technologies in the fast growing programmatic and mobile advertising space. Now that RevX has seen strong traction in India and Southeast Asia region, we believe it is appropriate to let the team run after a much larger global opportunity. "
The new entity has secured $4M in funding from Komli's existing investors - Norwest, Nexus, Helion, DFJ, and Peepul Capital.