Mobile ad platform PayTunes raises funds from CIO Angel Network
PayTunes, the Delhi-based mobile advertising platform, this week raised an undisclosed sum from CIO Angel Network, led by Sanjay Mehta and Anoop Mathur. PayTunes plans to use the cash injection to acquire users, marketing and improve its product features.
PayTunes offers user rewards for listening to audio jingles
Sanjay Mehta, Angel & PE Investor, says:
“Mobile advertising is currently the hottest area in the advertising industry and brands are looking at newer innovative ways to reach the mobiles of their consumers. Most of the digital advertising avenues have for long focused only on in-app and website banner ads. This audio-based ad delivery model is disruptive and holds global potential.”
PayTunes, founded in 2015, allows Android marketers to reach mobile consumers through audio jingles. It replaces ringtones on a user’s mobile with branded ad jingles. The user is being rewarded with points on incoming calls and can later redeem those points for recharges and bill payments.
The company says it registered 10,000 users within 14 days of launch. Divya Pratap Singh, CEO and Co-Founder, PayTunes, explains:
“With PayTunes, we are trying to create a unique way to reach these users via audio ad-jingles, where brands can target their campaigns in a cost-effective way by using the PayTunes platform’s capability to deliver dynamic content to its users based on demographics, location and user interests. PayTunes is a mass product and will soon disrupt the digital advertising industry which is still in the nascent stages of growth.”
Co-Founder Gaurav Tiwari added that PayTunes offers greater narrowcasting of audiences to provide advertisers with only the best target users.