Convosight raises $9M in a Series A round led by Qualgro

SaaS News -Convosight-raises-$9-million-in-a-Series-A(source: SaaS Industry)
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Qualgro led a $9M Series A investment for Convosight, a community creator monetization platform. Convosight provides a monetization environment for community builders, allowing them to collaborate with marketers and monetize their communities in a long-term manner. Reckitt Benckiser, P&G, Nestle, Abbott, and ITC are among the Convosights clients.

Convosight, a community creator monetization platform, has said that it has raised $9 million in a Qualgro-led Series A funding round. Other participants include existing investors IvyCap Ventures and Sequoia Capital India’s Surge, as well as Unilever Ventures and Ajay Gupta. 

On platforms such as Facebook Groups, Reddit, and Discord; Convosight is creating a monetization environment for community creators to enable them to work with marketers and monetize their communities in a sustainable way. Within the last 15 months, the firm claims to have grown over ten times in terms of users.

Convosight claims to have seen a 25x increase in revenue for community developers over the previous 12 months, with almost $1 million in total compensation.

Tamanna Dhamija, Tarun Dhamija, and Kartik Bansal came up with the concept for Convosight after creating, expanding, and monetizing the parenting network Baby Destination to two million members.

We were able to use technology and analytics to create value for brands to co-exist with our communities, giving us revenue and brands a quantifiable ROI on community marketing. In 2020, we decided to productize our learnings to enable community creators globally to start monetizing via purpose-led community marketing with brands.

Tamanna Dhamija, co-founder of Convosight

Mr.Tarun said that parenting, culinary, beauty and cosmetics, health and nutrition, and women-focused groups are the top collaborating and engaging communities and companies via Convosight. 

He added,

Today, we have more than 300 million members in managed communities and eyeing a potential market opportunity of close to 1.8 billion users across Facebook, Reddit, and Discord.

Tarun Dhamija

Convosight is igniting a new ecosystem for community marketing, which will impact millions of community creators and start a new chapter in marketing. They have leveraged their unique tech and data platform in creating a new purpose-led digital marketing category. Qualgro will help them further accelerate international expansion and build a global presence.

Heang Chhor, managing partner and founder of Qualgro

Fortune 100 consumer companies such as Reckitt Benckiser, P&G, Nestle, Abbott, and ITC, as well as D2C companies such as Plum, use Convosight to help increase organic customer engagement, adoption, and brand consideration through community marketing, boosting community creator revenue.

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