StartupCentral

Mumbai-based online ad network Komli Media has raised $15 million in Series C funding from Norwest Venture Partners and existing investors Helion Venture Partners and Nexus Venture Partners. The fresh capital will be used to expand its presence in India and the Asia Pacific region, said a press release. Niren Shah, managing director at Norwest (India) will join the Komli board.

The company claims that its business grew 600 per cent in 2010 and headcount increased from 51 to 115. Medianama reports that the company incurred losses of $1.5 million for the financial year ended March 31, 2010.

The latest round of venture capital takes Komli’s fund-raising tally to $28 million. It raised $7 million in its Series A in 2008 from Draper Fisher Jurvetson, Helion and Nexus. Last June it picked a $6 million Series B round from the same investors.

The company, founded by former Microsoft executive Amar Goel in 2006, made two overseas acquisitions last year — UK-based online marketing company Indoor Media and Australia’s PostClick.

Komli Media, a Mumbai-based advertising network startup, has picked up $6 million in Series B funding from existing investors Nexus Venture Partners, Helion Venture Partners and Draper Fisher Jurvetson. The fresh funds will be used to grow the company’s presence in the Asia Pacific region.

The funding follows Komli’s acquisition of PostClick in Australia last month, as part of its Asia Pacific expansion strategy. The company claims 1,500 sites on its network including Facebook, Expedia and Bloomberg, and 30 million unique users.

The company raised $7 million in its Series A round in 2008. It currently employs 90 people in India and overseas and was founded in 2006 by Amar Goel, CEO, who earlier led sales and services at Microsoft.

(Source: Press Release)