[Funding alert] Instoried raises $8 M from Pritt Investment Partners, 9Unicorns
Instoried, an AI (artificial intelligence)-powered startup that tracks the performance of content prior to publication has raised $8 million in funding from Pritt Investment Partners and 9Unicorns.
This round also saw participation from Mumbai Angels, Venture Catalysts Angel Fund, SOSV, and a few HNIs.
Instoried, founded in 2019, aims to use the fresh capital to further strengthen its tech stack, enter newer geographies and expand the team as well as operations.
The AI-driven tracking software of Instoried allows for real-time sentiment analysis at the point of content creation to ensure performance ahead of publication.
Sharmin Ali, Founder & CEO, Instoried, said, “With all brands selling online and the world going virtual, we were able to identify a huge opportunity in this adversity (pandemic time) and have grown 50X in the last one year. We are now looking at scaling operations in the US. This fundraise will help us go to market, build a strong team in the US and add more product offerings to our existing portfolio.”
The product offering of Instoried includes both content evaluation and creation, with some of the services being short-form content generation, emotional quotient analysis, grammar check, plagiarism check, headline analysis, tonality check and panel testing.
According to this startup, its tool suggests recommendations that create content to resonate and strike a chord with customers. This leads to boosting engagement and increasing content productivity, all in real-time using AI.
Instoried claims to have onboarded over 120,000 users in just two months. Its customers, the company said in a statement, have seen an increase in lead generation by threefold and double content ROI within six months of using the tool.
Scott Tripp, Director of People, Standards, and Results at Pritt Investment Partners, said, “Pritt Investment Partners has been focused intently on investing in companies that have a strong product, management team, market in which to grow, and a solid plan for growth and favourable returns in the future. We believe we have found this in Instoried and Sharmin Ali.”