The company has now raised a total of $10 million.
The latest fundraising also saw the participation of Mumbai Angels, Venture Catalysts Angel Fund, SOSV and a few high networth individuals. The capital will be used to strengthen the company’s tech stack, and for expansion and hiring, according to a statement.
Founded in 2019 by Sharmin Ali (CTO Sutanshu Raj was named cofounder later), Instoried offers an artificial intelligence-powered pre-publication sentiment analysis tool that enhances content performance in real-time. The product offering includes both content evaluation and creation. The platform uses the principles of neuromarketing to offer smart recommendations to increase or decrease a particular emotion in the content.
Instoried’s tool suggests smart recommendations that create content to resonate and strike a chord with customers, which leads to higher engagement and content productivity.
“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,” Ali said.
The fresh capital will help the company go to market, build a strong team in the US and add more product offerings to its existing portfolio, she added.
“As the digital marketing industry continues to grow, we believe Instoried is well-positioned with their product to take advantage of this opportunity and quickly penetrate the market,” said Scott Tripp of Pritt Investment Partners. “We are excited and proud to be a lead investor in the company and look forward to seeing the continued rapid growth of the company.”