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Indiatimes invests $4 million in InstaMedia Network (Instablogs.com)

Shimla-based InstaMedia Network, the publisher of citizen journalism site InstaBlogs.com and creator of Software as a Service (SaaS) based content platform InstaPress, has secured $4 million in Series A funding from Times Internet (Indiatimes.com), a subsidiary of The Times of India Group.

Shimla-based InstaMedia Network, the publisher of citizen journalism site InstaBlogs.com and creator of Software as a Service (SaaS) based content platform InstaPress, has secured $4 million in Series A funding from Times Internet (Indiatimes.com), a subsidiary of The Times of India Group.

InstaMedia plans to use the funds to grow its network of writers and accelerate its technology platform development. The company also plans to launch local sites, targeting the European and US audiences, which drive over 60 per cent of its traffic.

“The entire InstaMedia team has amazed us with their drive, creativity, and clarity, and we are confident that they will continue to create a large presence in the digital content ecosystem globally” Satyan Gajwani, director, business development, The Times of India Group, has said.

“The Times Group will be a great long-term, strategic partner. They understand this space very well and bring a lot of experience and expertise to the table. We are also honoured to have Satyan Gajwani join our board of directors,” Ankit Maheshwari, co-founder and CEO, InstaMedia, has said.

InstaMedia is a content network publishing over 15 sites in niche verticals like lifestyle, green living and technology. Its citizen journalism site InstaBlogs.com has over 4 million monthly unique visitors. The company also offers online media production and distribution solution for media houses through its SaaS based cloud service, InstaPress.

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