Hyderabad-based digital marketing firm GenY Medium, which counts Murugappa Group Vice Chairman MM Murugappan and Nasscom Chairman BVR Mohan Reddy among its investors, has expanded to Bengaluru and New Delhi.
Announcing this, CEO Yashwant Kumar on Friday said acceptance of digital marketing among corporates is on the rise. “By expanding, we would be able to address the rising Indian digital marketing opportunity better,” he said. GenY Medium had acquired many clients recently, which includes NIIT and Aakash, Sobha & Ardente, CignaTTK, Max Bupa & OncQuest and 9XM, SIIMA & CCL. A foray into Mumbai is in the pipeline, he said.
Without disclosing the funds raised, he said apart from the Series A round from the two industry leaders it had in early 2013 received seed investment from angel investor Srinath Devireddy.
It was looking to raise around $1 million over the next six months to fund the expansion. The headcount, he said, would go up to 150 in the next two years. Bulk of 45 existing staffers were based out of Hyderabad.
Indian online advertising market, Mr.Yashwant Kumar said, was projected to grow by 30 per cent this fiscal as advertisers warm up to the digital medium that helps understand their advertising campaign’s popularity and success in real time. The value of market rose to Rs.3,575 crore by March 2015 from Rs.2,750 crore last year, he said.