Creator monetization startup TagMango banks $750k in Y Combinator-led round

Content monetization startup TagMango said it raised 5.5 crore rupees (US$745,700) in a seed funding round led by Y Combinator, Twitch co-founder Kevin Lin, XRM Media, Pioneer Fund, and angel investors from the US and UAE.

TagMango co-founders Divyanshu Damani and Mohammad Hasan / Photo credit: TagMango

The funds raised will enable the company to build up its tech capabilities and expand its creator base, with a focus on Bharat, it said in a statement.

Based in India, TagMango provides creators in the country with business tools for setting up paid communities through one-time and subscription-based services. A few of their tools include exclusive content such as videos and podcasts, one-on-one sessions with creators, video chats, and community hangouts.

“With these funds, we are looking to build more and more features, hire top talent, and onboard the biggest creators in India,” said Divyanshu Damani, co-founder of TagMango. The company also aims to reach new users beyond Tier 1 cities, the exec added.

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To date, TagMango claims to have onboarded over 3,000 organic creators during its soft launch, with about 50 creators having a following of more than a million and 200 more with over 100,000 followers across social media platforms.

The company said it’s targeting the next 500 million internet users of India and to convert influencers into entrepreneurs.

In April this year, TagMango raised US$105,000 seed funding from Kevin Lin and XRM Media, according to data from Crunchbase. It  also took part in Y Combinator’s 2020 cohort.