[Funding alert] Creator monetisation startup TagMango raises Rs 5.5 Cr from Y Combinator, Kevin Lin, XRM Media, others
Mumbai-based creator monetisation startupon Friday announced that it has raised around Rs 5.5 crore ($750,000) in a seed funding round led by Y Combinator, Kevin Lin (Co-founder of Twitch), XRM Media, Pioneer Fund, and angel investors from the USA and the UAE.
Tapping into the creator-audience interaction space, the startup said it aims to scale the Indian creators’ ecosystem by empowering homegrown creators with sophisticated monetisation channels, tools, and features to build a sustainable business. The company has already onboarded over 3,000 organic creators in the soft launch — with about 50 creators enjoying a million-plus following and 200 creators with over 100,000 following across social media platforms. The amount raised will enable the startup to build tech capabilities and expand its creator base with a keen focus on Bharat.
“Today, with access to the internet and smartphones penetrated across the nooks and corners of Bharat, anyone can dream to be a creator and curate a community. We, at TagMango, are on a mission to turn their dreams into an ambitious career, empowering them with content monetisation tools and a platform to foster lasting communities,” said Divyanshu Damani and Mohammad Hasan, Founders, TagMango.
TagMango Co-founders Divyanshu Damani and Mohammad Hasan
"With these funds, we are looking to build more and more features, hire top talent, and onboard the biggest creators that are in India and not just restrict ourselves to Tier-I cities but also Tier-II and Tier-III cities," added founders.
Founded in 2019, TagMango provides business tools for creators to set up paid communities by offering one-time and subscription-based services. Designed with feedback and inputs from over 100,000 creators, influencers, and artists, TagMango is a one-stop solution for all the creators' needs. Their tools include exclusive content (podcast, video, and more), one-on-one with creators, video chats, and community hangouts to give the creators’ audience a more meaningful engagement avenue. The company enables creators to build loyal audiences, and who don't know how to monetise this audience. Thus, TagMango is giving them a ready platform to build and test out with monetisable services.
“We're drawn to the TagMango team’s passion for helping creators. They’ve created a flexible platform for creators of India to explore more personalised avenues to make a living based on each creator’s unique relationship with their community,” added Kevin Lin, Co-Founder, Twitch TV.