Digital publishing SaaS startup Quintype Technologies, has raised Rs 25 crore in Series A round of funding from IIFL AMC, a part of IIFL Wealth Management Limited. As per the company, it intends to use the funds to continue to expand its operations and reach.
The Bengaluru- based startup provides digital media publishers a platform to create, curate, distribute and monetise content. Among its clients, the company has publishers such as Bloomberg Quint, Prabhat Khabar, Bar and Bench, The Quint, Swarajya which use the platform to publish and distribute all their content.
According to Chirdeep Shetty, CEO, Quintype, media companies and content creators across the world are moving towards a digital-first strategy and the current pandemic situation has only accelerated that shift. “Digital publishing has seen a fundamental shift in the last few years with most audiences seeking on-demand content with the proliferation of mobiles. We are happy to lead this change by creating and expanding this digital ecosystem and this investment by IIFL AMC is a step in that direction,” he added stating that this will help the company provide better support and expand its offerings to publishers globally.
For Prashasta Seth, senior managing partner, IIFL AMC, Quintype, with its suite of products, is set to accelerate the growth in digital content and publishing space. “It enables more content creators to go digital easily and gives them the freedom to distribute, scale up and monetize their content using an intuitive product with hundreds of built-in features,” Seth stated.
As per Raghav Bahl and Ritu Kapur, who had invested in the founding capital in the company, Quintype was born as a stand-alone, independent, arms’ length operation and its early successes are manifest in the 70 publishers from across the globe on it now. “Quintype, with funding support from pedigree investors, is now ready to move on to big things in its next stage,” they said.