Convosight raises
$9MN Series A
to build the monetization ecosystem
for community
We are excited to announce that we have raised a $9 MN Series-A, to scale the monetization ecosystem we are building for community creators, across platforms
Our Series-A round was led by Singapore-based VC firm Qualgro. Unilever Ventures and Ajay Gupta (ex McKinsey), along with existing backers IvyCap Ventures and Sequoia Capital India’s Surge also participated in the round.
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INVESTOR SPEAK —
“Just like the Influencer Marketing ecosystem has changed the marketing landscape and enabled millions of influencers to earn a living, Convosight is igniting a new ecosystem for Community Marketing which will impact millions of community creators and start a new chapter in marketing. They have leveraged their unique tech and data platform in creating a new purpose-led digital marketing category. Qualgro is delighted to partner with Convosight and helps them further accelerate its international expansion and build a global presence”
Heang Chhor Managing Partner, Qualgro -
INVESTOR SPEAK —
“Convosight is a pioneer in community marketing providing a unique digital marketing platform for brands to reach out to highly engaged target audiences across social media communities while enabling the monetization for community creators. We at Unilever Ventures are excited to partner with Convosight as they look to scale up globally partnering with some of the best brands across categories”
Pawan Chaturvedi Partner at Unilever Ventures -
INVESTOR SPEAK —
"We have been working closely with the Convosight team and have witnessed an exponential increase in the number of users supported across the platform. We are excited by the potential of the business that has created a leadership position in its area of operations."
Vikram Gupta Managing Partner, IvyCap
Rise of Creator Monetization
In the past few years, there has been an explosion of platforms building the monetization infrastructure for creators, like Patreon, Podia, Outschool, Gumroad to name a few. But the creators these platforms are focussing on, are mostly content or physical/digital products creators.
There is one segment of creators who are at the epicenter of this movement i.e. community creators on platforms like Facebook (groups), Telegram, Discord, Reddit, and others, with Facebook Groups being the largest community platform by a huge margin with its 2Bn Monthly Active Members in Groups and over 70 Million Community Creators.
The Problem
The biggest pain point today, faced by community creators globally is, how to unlock sustainable income from their community.
These community creators work tirelessly to create a safe and trusted space for their members to engage, get advice, solve problems and share successes but get no financial returns for their efforts and time.
This is a big reason due to which for most of these community creators, their community always remains a side hobby, and not the primary activity that they do.
Convosight is the first platform that is on a mission to make the lives of community creators better
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Helping community creators partner with brands
Helping community creators partner with the world's largest Fortune 100 consumer companies and high growth D2C brands (Nestle, J&J, Reckitt, P&G, Abbott, Plum Goodness, and more) and start to earn sustainably, by doing purpose-led, meaningful campaigns in their communities.
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Building free tools and learning spaces
Building free tools and learning spaces, that help community creators learn, how to pitch to brands themselves, get campaigns, execute them successfully in their communities and earn on their own.
Welcome to the world of purpose-led community marketing
Convosight is also the first platform that has empowered some of the largest consumer brands to engage meaningfully with communities with a quantifiable ROI, thus creating this entirely new category of Purpose-led marketing in Communities (which fuels community creator earnings).
We call Community Marketing, Purpose-led marketing, as all our campaigns are based on strong consumer insights which are derived from understanding millions of conversations across relevant and engaged communities.
These campaigns, either provide some value to the community members in terms of education or engage them with contests, gifts, and product samples, thus creating a win-win for community members, brand, and the community creator.
With Community marketing increasingly becoming an integral part of the marketing mix, Convosight has enabled brands across India, US, SEA partner with community creators at scale - quickly expanding to other geographies.
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BRAND SPEAK —
“Communities is where the future of conversation will pivot to. As an Adult nutrition brand, we saw a big opportunity in this to build salience and preference. We wanted a trustable partner who had the knowledge, expertise, and tech to bring our vision to life. We started working with Convosight in 2019 on a pilot. The results were astonishing. We continue to scale and push the possibilities with Convosight. Kudos to the team on the commitment and being a true partner, this has helped us build innovative solutions backed by strong insights.”
Neharika Talreja Head of Digital Marketing, Danone -
BRAND SPEAK —
“The rise of communities is remarkable as consumers turn to Facebook and WhatsApp group communities to discuss their pain points, opinions on various categories and brands. Through communities we have seen a shift in engagement narrative from likes to meaningful conversations leading to consideration, advocacy and increased ROI. Community Marketing is now a critical and high performing part of the overall media mix for several brands within Reckitt“
Shashishekhar Mukherjee Head of Media for Reckitt
How did it all start?
Convosight was built by productizing the learnings that Tamanna and Tarun had while building, scaling, and monetizing India's largest parenting community Baby Destination (2 million mothers across 30+ Facebook groups and hundreds of Whatsapp groups).
In the past 1 year since our first fundraise...
- We have seen a 25X increase in payouts to our community creators (almost $1 MN in payouts), with 25% of the community creators earning an average of $500 per month in the last 3 months.
- Community creators are using these earnings to fulfill their dreams, from becoming independent, to sponsoring education, to donating it to help the needy during Covid.
- 1,000+ communities are getting monetized every month on an average via community marketing campaigns with large consumer brands.
- 10X increase in community members managed via Convosight, today 100,000+ communities are using Convosight to manage over 700 million members across 75+ countries.
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— FROM THE FOUNDERS —
“We were able to use technology and analytics to create value for brands to co-exist with our communities, giving us revenue, and brands a quantifiable ROI on community marketing. In 2020, we decided to productize our learnings to enable community creators globally to start monetizing via purpose-led community marketing with brands. At Convosight, our mission is to enable millions of community creators to earn sustainably. We are thrilled by the support of ambitious, successful investors who see the disruptive potential of Convosight in creating the community marketing category”
Tamanna Dhamija Co-founder, Convosight -
— FROM THE FOUNDERS —
“The top categories of communities and brands that are collaborating and engaging in community marketing via Convosight are Parenting, Cooking, Beauty & Makeup, Health, and Nutrition as well as women-focused groups. Today we have more than 300 Mn members in managed communities and eyeing a potential market opportunity of close to 1.8 Bn users across Facebook, Reddit and Discord”
Tarun Dhamija Co-founder, Convosight
Community creators love us for the impact we have created in their lives
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I bought my own laptop with my self-earned pay đź’°đź’° through campaigns.
Neha Garg
Mom's And Tiny Tots👩‍👧👩‍👧👩‍👦
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Because of the monetization class of Convosight , my group has been able to monetize well. ❤❤ I was able to pitch and work with 30 + brands myself and earn Rs 25,000 a month.
Kajal Singh Chauhan
Innovative Kids at home (IKH)
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We are happy to announce that our group Moms of Mangalore has awarded scholarships worth 7k each to five students from economically underprivileged families. We built this fund purely from brand campaigns on Convosight .
Lyvia Cardoza
MOM - Moms of Mangalore
What happens next...
These funds will be used to scale our team across product, data, and technology, and expand into US and South East Asia markets.
Some of the most exciting things that we will be building in the coming few months would be around —
- Building a self serve marketplace where brands and community creators can discover each other and collaborate seamlessly to do community marketing
- Enabling community creators across platforms to start earning from their communities. Currently, we are super focused on Facebook groups, Reddit and Discord.
- Scaling our enterprise brand relationships and the budgets they are spending on community marketing, by expanding our solutions and offerings to help them drive consideration and preference for their brands
- A learning ecosystem for brands and community creators (powered by Convosight's tools set) that helps them understand and appreciate the value of community marketing for brands, community creators, and community members, thus accelerating the community marketing category as a whole
Join the rocketship!
The last year of Covid lockdowns has only proven the value of digital communities in our lives even more and we are really excited for a future built on communities. We are a super-inspired, remote team expanding and hiring across all functions.
If you are someone who is excited to build a community-powered future do check out our careers page or shoot us an email at hiring@convosight.com
See all Open Roles
