The parent company of news aggregator Dailyhunt and short video app Josh, VerSe Innovation has raised over $450 million in a series of funding from Siguler Guff, Baillie Gifford, affiliates of Carlyle Asia who Partners Growth II, and others financed VerSe Innovation’s Series I round. The other existing investors Sofina Group, Qatar Investment Authority and BCap, also participated. The firm is planning to expand its offerings to international markets.
According to reports, VerSe Innovation’s valuation has more than doubled in the past five months. The start-up was valued at over $1 billion in its Series H financing round. VerSe Innovation’, short video app Josh has accumulated over 115 million monthly active users; 56 million of them use the app every day. Dailyhunt has amassed over 300 million monthly active users.
VerSe Innovation is planning on creating a family of apps that serves users in terms of local languages. Dailyhunt offers its content in 14 languages from over 100,000 content partners and creators. As per reports, it plans to replicate the same strategy as it looks to expand in international markets. The firm is also planning to invest in expanding its AI / ML stack to provide users more personalized experience.
