Accel Partners has completed ‘Series A’ investment in Trivone Digital a Bangalore-based new age digital media and content company.The funds will be utilised by Trivone towards meeting its working capital requirements as well as pushing growth through the inorganic route in the months ahead.
“We are delighted to have Accel Partners on board and look forward to working closely with them as we chart out a growth path for ourselves. We believe that the expertise gathered by Accel Partners over 25 years of building more than 300 successful enterprises will hold us in good stead,” said Subu Subramanyan, Founder and CEO of Trivone Digital Services.
Trivone’s strategy is the ability to create world class content, which will enable it to build Digital media properties and offer managed services to clients. Currently the company offers services by way of creating, sourcing and packaging content for online delivery to a wide cross-section of large Enterprise customers.
“Trivone, given the media and Content expertise of the team, is well set to build a best in class Digital Media Company”, said Mahendran Balachandran, Partner at Accel India.
Earlier in the year Trivone had acquired the management rights for the three IT portals, viz., Techtree.com, ChannelTimes.com and CXOToday.com from UTV. Explaining the rationale for pure play digital media, Subu said, "Internet penetration in India is at the cusp of rapid growth. We see a tremendous opportunity for these properties to grow, both online and mobile".