New Delhi-based Real Time Networks Pvt Ltd, which operates mobile advertising platform PayTunes, has raised $500,000 in pre-series A funding from Indian Angel Network (IAN) and CIO Angel Network. It raised $100,000 from CIO Angel Network in September last year. The pre-series A round also saw participation from PayTunes’ existing investor, CIO Angel Network as well as Apurva Parekh from Pidilite and Sanjay Mehta.
Founded by Divya Pratap Singh and Rakesh Sehgal in 2015, Paytunes plans to utilize the investment for expanding the team and hiring more talent on the sales side and for marketing initiatives.
PayTunes provides advertisers and brands a targeted medium to reach mobile consumers through audio visual ads.
For users, the PayTunes app replaces their mobile ringtones with ad jingles from advertisers and at the end of the call, a visual for the same ad is also shown. For every ad played, a user earns points which can be redeemed against mobile recharges and bill payments. PayTunes also provides offers to its users from e-commerce portals.
For advertisers, PayTunes provides a complete ad platform with in-build ad analytics. Advertisers can selectively choose the users they want to target based on geography, demography and other parameters and push their ad from through a single click.
The company is working with about 25 advertising agencies and claims to have run campaigns for Nissan Motors, Vodafone, Saavan.com and Amazon, among others. PayTunes has a foothold in Delhi-NCR, Uttar Pradesh, Gujarat, Mumbai-Pune, Rajasthan and Bihar regions.