Kalaari invests $2.5m in India-based Codigami
Kalaari Capital has committed $2.5 million to Codigami, parent company of Indian social media manager app Crowdfire, in a Series A round of funding.
The company will use the new capital to hire more staff and develop online marketing tools.
Crowdfire was founded in 2010 as JustUnfollow, a tool that help users manage their Twitter followers more effectively. Last month the company changed its name to reflect its broader focus beyond Twitter. It claims over 10 million users of its products, which include both Crowdfire and Instagram contact manager TakeOff.
Both free and paid versions of the services are available. There are currently 15,000 paid users. The company plans to attract enterprise customers as well as individuals.
Kalaari specializes in backing early-stage, technology-oriented Indian companies. Last year it committed $3 million in Series A funding to Mumbai-based data analytics start-up Germin8. Also last year, the firm led a $10 million round of funding for online jeweler Bluestone.com and participated in a $133.77 million round for online marketplace Snapdeal.
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