Content monetisation platform ConsCent raised $1.75 million funding led by Inflection Point Ventures

• ByStartupStory     |    July 12, 2022

Content monetisation platform ConsCent has raised a total of Rs 13.26 crore (about $1.75 million) in a bridge round led by Inflection Point Ventures. Early-stage funds Varanium Capital, RiSo Capital, SucSEED Innovation Fund, Sigurd Ventures, Startup Angels Network, AngelList, PitchRight Ventures, and angels Vijay Sivaram (CEO, Quess IT Staffing), Sandeep Aggarwal (Founder, Droom), and Gazal Kalra (former Co-founder, Rivigo), also participated in the round.

This is ConsCent’s second round of funding since it received a seed investment of Rs 4 crore in August 2020 from AngelList, WhiteBoard Capital, PitchRight Ventures, and illustrious angels like Vijay Shekhar Sharma of Paytm, Ritesh Malik of Innov8, Sandeep Agarwal of Droom, Suhail Sameer of BharatPe, and Varun Alagh of Mamaearth.

Sunny Sen, the CEO and co-founder of ConsCent, told PTI that the business intends to utilise the money to hire technology specialists, grow its sales and marketing staff, and invest in artificial intelligence (AI) and machine learning (ML) tools for building its own content monetisation platform. He claimed that while there was virtually any content behind a paywall when ConsCent began operating for profit in April 2021, significant media organisations are now placing 1% of their content behind a barrier.

The startup currently provides technology to the India Today Group (India Today, Cosmopolitan, and Business Today), Outlook India Group (Outlook India and Outlook Business), MidDay, Indian Retailer, Amar Ujala, Udayavani, Amar Chitra Katha, EPIC On, Tinkle Comics, and New Indian Express. Sen stated that media outlets set the pricing for each article and are free to customize their services to attract readers.

According to ConsCent, it has 5 lakh users.  the next six months will be crucial for ConsCent as it looks to grow operations outside of India and further its penetration into the Indian subcontinent.  Serious readers are increasingly choosing to switch to a subscription-led model because finding valuable material amidst the noise is challenging and time-consuming.

According to Mitesh Shah, co-founder of Inflection Point Ventures, “ConsCent’s innovative pay-per-use membership model promises to give premium content and also enables like-minded people to interact, develop their partnership, and monetise their service.”

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