Delhi-based SlideApp, which helps public to have mobile screen locks, raises as much as 3.6 million USD in its Series A round of funding led by Songhyun Investment. The South Korea-based Venture Capital firm invested in relation to having the users award with appropriate reading content mainly in Android phones. The Seed funding round by the same application based firm raised near about $1.2 million a few months back.
The fundraising event will help SlideApp to help expand its platform thus scaling its user base, develop the products along with strengthening its brand presence in the market. It will also use part of the funding to develop the platform towards being more user-friendly and more innovative.
Founded in November 2015 by Amrita Gujral and Nakul Sethi, it is headquartered in Delhi, where it operates the business in a global standard through the help of Google Play. The SlideApp is available free on the website from where one can download it and avail reward points immediately. Till date, it has witnessed over 5 billion downloads.
The mobile media platform aggregates its users by giving them credit points and incentives every time they read content according to their preferences. The points can be availed by a publisher, content curator or advertisersfrom various bloggers. The reward points earned by the user is accumulated to be used as a money for further recharges in mobile.
The app works like this as every time a user reads a customised content from the app, the platform enables advertisers to target their audiences in the form of content most preferable to them. It also creates a multi-benefit usage model for business-to-consumer as well as business-to-business firms. Apart from giving the user an advantage to read via the app along with recharging the mobile with generated money from the supports, it focuses and acts as a new-age advertising tool which helps the marketers promote and campaign its brand or company by reaching out to higher and larger target audience in an appropriate way.