- Text Mercato has raised $2.6 Mn in its pre-Series A funding round.
- The round saw participation from 1Crowd, Mount Judi Ventures and Innospark Ventures, Modulor Capital, Tremis Capital and ah! Ventures.
- The startup generates over 1 million content pieces every month.
The Bengaluru-based startup Text Mercato has raised $2.6 Mn in its pre-Series A funding round, which was even an equity round.
The company was founded by Kiran Ramakrishna and Subhajit Mukherjee in 2015. Text Mercato is a Content technology and cataloguing based platform that offers content marketing solutions to customers.
The round saw participation from 1Crowd, Mount Judi Ventures and Innospark Ventures, Modulor Capital, Tremis Capital and ah! Ventures.
The startup’s early investors gained 12.3X returns on their investment as part of this round.
The startup plans to use the funding to expand its international market presence. As a result, the company’s position in the Indian market will further be strengthened.
Moreover, the startup will make investments to enhance its tech infrastructure, add new categories, and launch a DIY (Do-it-Yourself) platform named Rubick.ai.
According to a statement released by the Startup, Text Mercato has raised over $4 Mn of investments to date.
In addition to plagiarism and duplication checks, Text Mercato performs a 17-point quality check on its content pieces before delivering them to customers.
Small and medium-sized businesses can benefit from Text Mercato’s new Rubick.ai platform, which provides end-to-end cataloguing.
Over 1 million content pieces are generated every month by Text Mercato. During the last fiscal year, its revenue grew 3X.
This year, the startup expects to increase its revenue by 4X and gain 30% more market share internationally. The United States, the United Arab Emirates, and France are among its top markets, which account for 16% of its revenue.
The Luxury Closet UAE, Myntra, Nykaa, Webedia France, and Live Auctioneers US are some of the companies that use Text Mercato.
Competitors such as Textbroker, Problogger, and Guru compete with Text Mercato in the content marketing space.
It is predicted that the global content marketing market will grow to $107 Mn by 2026, growing at a CAGR of 14.3%.
According to a report: Increasing demand for content marketing software will accelerate the growth of the Indian content marketing market in the coming years