VerSe Innovation Valuation, Funding & Investors

VerSe Innovation is valued at $5B as of April 2022.

Last VerSe Innovation valuation

$5B

Series J · Apr 2022

Last VerSe Innovation funding round

$805M

Series J · Apr 2022

Cumulative funding VerSe Innovation raised

$1.7B

across 16 funding rounds

Key investors in VerSe Innovation

VerSe Innovation Overview

About VerSe Innovation

VerSe Innovation is a Bengaluru-headquartered technology firm powering the Dailyhunt app for local-language content discovery in India. The platform aggregates news, short videos, and social media from thousands of sources in 14 Indian languages, using recommendation algorithms and vertical search to deliver personalized feeds and push notifications. VerSe also operates Josh, a short-video service, reaching users via Android and iOS apps nationwide.


Founded

2007

HQ

IndiaBangalore

Website

verse.in

Status

Privately held

Customer focus

B2C

Revenue model

Advertising

Valuation

$5B (Apr 2022)

VerSe Innovation Valuation

VerSe Innovation is currently valued at $5B, based on its Series J in April 2022.

The $805M round was led by CPP Investments, Alphabet and Meta, with participation from Baillie Gifford, Microsoft, Luxor Capital Group, Ontario Teachers' Pension Plan, Sumeru Ventures and 1 other investor.

VerSe Innovation's valuation has grown 34x from $148M at its Series B in September 2014 to $5B in April 2022, across 9 priced rounds.

VerSe Innovation valuation by funding round

VerSe Innovation valuation by funding round
DateStageValuation
Apr 2022Series J$5B
Jan 2022Series I$69M
Feb 2021Series H$1B
Dec 2020Series H$1B
May 2020Series G$619M
May 2019Series F$534M
Mar 2019Series F$505M
Sep 2018Series E$341M
Sep 2014Series B$148M

VerSe Innovation Funding History

VerSe Innovation has raised a total of $1.7B across 16 funding rounds.

VerSe Innovation's first fundraising round was a $16M Series B in September 2014. The most recent completed round was a $805M Series J in April 2022.

VerSe Innovation funding rounds

VerSe Innovation funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Apr 2022Series JCPP Investments (lead); Alphabet (lead); Meta (lead); Baillie Gifford; Microsoft; Luxor Capital Group; Ontario Teachers' Pension Plan; Sumeru Ventures; Sofina$805M$5BVerSe Innovation, parent of Dailyhunt news aggregator and Josh short video app, raised $805 million in a Series J round in April/June 2022 led by CPP Investments with participation from Google, Meta, Ontario Teachers' Pension Plan, Luxor Capital, Sumeru Ventures, Baillie Gifford, Sofina, and others. The round valued the company at $5 billion, up from $3 billion eight months prior, marking the largest Indian startup funding that year and bringing total capital raised to about $2 billion including secondaries. The India-focused adtech and commerce platform operates popular apps targeting smaller cities with snackable content, AI/ML enhancements, and new monetization via web3, social commerce, live commerce, and influencers. It plans to deploy capital for AI improvements, new apps, and extended runway.
Jan 2022Series ICPP Investments (lead)$28M$69MVerSe Innovation, the parent company of Dailyhunt (news aggregation) and Josh (short video app), is a Bengaluru-based content technology platform focused on local language content in India. In January 2022, it raised $28 million in its Series I round led by CPP Investments, following an initial $50 million investment from CPP in a prior round. This round supported product development and market expansion. A subsequent Series J round in April 2022 raised $805 million led by CPP Investments ($425 million), with participation from Ontario Teachers’, Luxor Capital, Sumeru Ventures, Sofina Group, Baillie Gifford, Google, and Meta, achieving a nearly $5 billion valuation, up from around $3 billion eight months prior. CPP had committed $50 million to a $140 million Series I2 funding earlier. Total funding reached about $2 billion across rounds, with $805 million from the two most recent. The funds from the April 2022 rounds aimed to enhance AI and machine learning, expand into e-commerce and live streaming, and strengthen position in India's growing short video and regional content market targeting the next billion users.
Aug 2021Series IBaillie Gifford (lead); Carlyle Group (lead); Siguler Guff & Company (lead); Qatar Investment Authority; B Capital; Sofina$452M-VerSe Innovation is a Bengaluru-based technology and media company that operates Dailyhunt, a news aggregator platform with over 350 million users, and Josh, a short-form video application. The company was founded in 2007 with a mission to bridge the urban-rural digital divide in India. VerSe has developed a proprietary technology platform that enables content consumption in local languages and has expanded through strategic acquisitions including Magzter and ValueLeaf. The company is backed by prominent institutional investors including CPP Investments, Qatar Investment Authority, The Carlyle Group, Goldman Sachs, Sofina, and others, with total funding of approximately $1.7 billion across multiple rounds between 2021 and 2024. For the fiscal year ended March 2025, VerSe reported strong financial performance with operating revenue growing 88% to ₹1,930 crore from ₹1,029 crore in FY24, and total revenue increasing 64% to ₹2,071 crore. The company achieved significant operational efficiency improvements, reducing EBITDA burn by 20% to ₹738 crore and improving EBITDA margin from negative 89% to negative 38%. Cost of services as a percentage of revenue from operations fell from 112% to 77% year-over-year. VerSe's growth strategy focuses on AI-powered innovation through its NexVerse.ai adtech platform, subscription services via Dailyhunt Premium, creator marketplace initiatives, and new features such as Josh Audio Calling. The company is targeting group-level profitability in the second half of FY26 and expects to achieve break-even.
Feb 2021Series HGlade Brook Capital Partners (lead); Qatar Investment Authority (lead); Canaan Valley Capital; Sofina$100M$1B-
Dec 2020Series HAlphabet (lead); Microsoft (lead); Lupa Systems; Alpha Wave Global; Sofina$100M$1B-
Nov 2020Series HB Capital (lead)$10M-VerSe Innovation raised $9.1 million in its Series H round in November 2020 led by B Capital to fuel business growth and expansion plans. The company, parent of news aggregator Dailyhunt and short video app Josh, had previously raised $35.6 million in Series G in May 2020 led by Lupa Systems and $5.1 million in Series G in April 2020 led by Sofina. Valuation for the 2020 Series H round was not publicly disclosed. Later rounds achieved unicorn status, with Series H valued at over $1 billion and subsequent rounds reaching nearly $3 billion in 2021 and $5 billion in 2022.
May 2020Series GLupa Systems (lead)$35M$619MVerSe Innovation is India's largest local language technology platform, operating the content aggregator Dailyhunt and short-video app Josh. The company serves one out of every two internet users in India across its portfolio of apps, built on proprietary AI-driven technology for local language content delivery. In May 2020, VerSe raised $35.6 million in a Series G funding round led by Lupa Systems, designed to enhance technological capabilities and expand market reach. The company's valuation at this early-stage round was not publicly disclosed. VerSe subsequently grew to become the first unicorn in local language technology in India, eventually raising $805 million at a $5 billion valuation in April 2022, and accumulating over $1.5 billion in total capital raised across multiple rounds.
Apr 2020Series GSofina (lead)$5M-VerSe Innovation raised $5.1 million in its Series G funding round in April 2020 led by Sofina. The funds supported product development and market expansion. Sofina, a Belgian investment company, focuses on growth companies in consumer and retail, digital transformation, and healthcare sectors. VerSe Innovation operates as a technology platform delivering personalized content, particularly in local languages, through apps like Dailyhunt and Josh. The company has raised over $1.68 billion across 20 funding rounds from 28 investors. Later rounds included a $450 million+ Series I in 2021 at over $650 million valuation and a $805 million Series J in 2022 at $5 billion valuation.
Apr 2020Series GAlpha Wave Global (lead); ByteDance; Goldman Sachs; Advent Capital Management; Sofina$24M--
Aug 2019Series FGoldman Sachs (lead)$3M--
May 2019Series FSofina (lead)$22M$534M-
Mar 2019Series FGoldman Sachs (lead)$35M$505MVerSe Innovation, operating the local-language news aggregator Dailyhunt, raised capital from Goldman Sachs' hedge fund in early 2019. The company received $35.05 million in the first tranche of a $173 million Series E round in March 2019, with the company estimated to reach a post-money valuation of $600 million to $650 million upon completion of the full fundraising. Dailyhunt aggregates news from newspapers and websites across 13 regional languages including Marathi, Gujarati, Tamil, and Bhojpuri, and also offers original video content and live television streaming services in multiple languages. VerSe Innovation's platform serves a substantial user base through its local language content ecosystem, with the company positioning itself as India's premier local-language technology platform. The Goldman Sachs investment marked continued institutional backing for the company, which went on to raise significantly larger rounds in subsequent years, reaching a peak valuation of nearly $5 billion in 2022 before later adjustments.
Jan 2019Series EOmidyar Network India (lead); Peak XV Partners (lead); Renu Sehgal Trust; InnoVen Capital$4M--
Sep 2018Series EAlpha Wave Global (lead)$6M$341M-
Feb 2015Series CAlpha Wave Global (lead); Omidyar Network India; Z47; Peak XV Partners$40M--
Sep 2014Series BPeak XV Partners (lead); Omidyar Network India; Z47$16M$148M-

Who has invested in VerSe Innovation?

25 investors have backed VerSe Innovation across its funding rounds, including Sofina, Alpha Wave Global, Peak XV Partners, Goldman Sachs, Omidyar Network India and Alphabet.

Lead investors include CPP Investments, Alphabet, Meta, Baillie Gifford, Carlyle Group and 11 other investors.


VerSe Innovation Investors

Investors in VerSe Innovation by funding rounds participated
InvestorHQRoundsRoleFirst check
SofinaBelgiumBrussels7LeadMay 2019
Alpha Wave GlobalUnited StatesMiami, FL4LeadFeb 2015
Omidyar Network IndiaIndiaMumbai3LeadSep 2014
Goldman SachsUnited StatesNew York City, NY3LeadMar 2019
Peak XV PartnersIndiaBangalore3LeadSep 2014
Baillie GiffordUnited KingdomEdinburgh2LeadAug 2021
MicrosoftUnited StatesSeattle, WA2LeadDec 2020
Qatar Investment AuthorityQatarQatar2LeadFeb 2021
CPP InvestmentsCanadaToronto2LeadJan 2022
Lupa SystemsUnited StatesNew York City, NY2LeadMay 2020
Z47IndiaMumbai2ParticipantSep 2014
B CapitalUnited StatesLos Angeles, CA2LeadNov 2020
AlphabetUnited StatesSan Francisco, CA2LeadDec 2020

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Acquisitions by VerSe Innovation

VerSe Innovation has acquired 5 companies to date.

Last acquisition by VerSe Innovation was on August 27th 2024. VerSe Innovation acquired Valueleaf Services India for undisclosed valuation.


Latest Acquisitions by VerSe Innovation

Valueleaf Services India
Magzter
GolBol
Vebbler
Description
Valueleaf Services India is a digital marketing agency specializing in data-driven campaigns for eCommerce and D2C brands in India. Gurgaon-based near Delhi, Valueleaf manages performance media for clients like Lenskart and Boat, driving 500 million monthly impressions via Google, Meta, and Amazon. The agency optimizes ROAS using first-party data and AI attribution across 20 cities. Established in 2010, Valueleaf reports 25 percent year-on-year client growth.
Magzter is a New York-headquartered digital publishing platform distributing magazines and books across iOS, Android, Windows, and web browsers. Registered as a Delaware C Corporation, the service launched in 2011 and features over 6,750 titles from 3,000 publishers under a revenue-share model. Tools like Orey Click Publishing enable one-touch digital conversions, while branded apps and the 2015 Magzter GOLD subscription provide unlimited access for readers. Available on Amazon Appstore storefronts.
GolBol is a Mumbai-based social networking app that facilitates photo sharing and connections among users in India. It supports real-time chatting, stories, and group features tailored for regional languages, gaining popularity among young adults in Tier 2 and 3 cities since 2020.
Vebbler is a Mumbai-launched personal networking platform introduced in beta on July 23, 2013, designed for intimate relationship layers. It employs a Crowd Layering Model to segment sharing across parents, teachers, colleagues, and bosses, preventing blind-sharing. By August 2013, it attracted 5000 users from 51 countries and 370 cities.
HQ CountryIndiaUnited StatesIndiaIndia
HQ City
Bangalore
New York City, NY
Mumbai
Bangalore
Deal Date27 Aug 202417 Apr 202413 Oct 202110 Mar 2021
Valuationundisclosedundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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VerSe Innovation Competitors

VerSe Innovation competitors include listed companies like LY Corporation, Kakaku.com, Doximity and RUM Group, and private ones like ShareChat and CARS24.

Public and private companies comparable to VerSe Innovation
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
LY CorporationJapanJapanPublicly listed$13B$3B$24B2.6x
ShareChatIndiaBangalorePrivate$77M-$5B64.9x
Kakaku.comJapanJapanPublicly listed$605M$175M$4.8B7.0x
DoximityUnited StatesUnited StatesPublicly listed$645M$229M$4.7B6.2x
RUM GroupUnited StatesUnited StatesPublicly listed$101M($78M)$3.6B19.4x
CARS24IndiaGurgaonPrivate$1B-$3.3B3.3x

VerSe Innovation Public Comps

VerSe Innovation is still privately-owned, but its public comps include Kakaku.com, Doximity, RUM Group, Kadokawa, People.cn, People, Autohome, Trump Media & Technology Group, M3 Inc. and Pinterest.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Kakaku.com$605M$175M7.5x7.0x26.1x22.2x
Doximity$645M$229M6.3x6.2x17.7x11.9x
RUM Group$101M($78M)39.2x19.4x(50.8x)(70.5x)
Kadokawa$1.8B$136M1.7x1.6x22.5x23.8x
People.cn$309M$57M8.3x8.5x44.8x42.4x
People$2.4B$122M1.3x1.6x25.4x11.3x
Autohome$962M$171M0.0x0.0x0.0x0.0x
Trump Media & Technology Group$4M($723M)673.6x-(3.4x)-

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Common questions about VerSe Innovation

When was VerSe Innovation founded?VerSe Innovation was founded in 2007.
Where is VerSe Innovation headquartered?VerSe Innovation is headquartered in Bangalore, India.
Is VerSe Innovation publicly listed?No, VerSe Innovation is a private, VC-backed company.
What is VerSe Innovation's valuation?VerSe Innovation was last valued at $5B in its Series J in April 2022.
How much funding has VerSe Innovation raised?VerSe Innovation has raised $1.7B across 16 funding rounds.
What was VerSe Innovation's last funding round?VerSe Innovation's last funding round was a $805M Series J in April 2022, led by CPP Investments, Alphabet and Meta.
Who are VerSe Innovation's investors?VerSe Innovation's investors include Sofina, Alpha Wave Global, Omidyar Network India, Goldman Sachs, Peak XV Partners, Baillie Gifford, Microsoft, Qatar Investment Authority, CPP Investments, Lupa Systems and 15 others.
Which companies are comparable to VerSe Innovation?Companies comparable to VerSe Innovation include LY Corporation, ShareChat, Kakaku.com, Doximity, RUM Group and CARS24.
How many companies has VerSe Innovation acquired?VerSe Innovation has acquired 5 companies, including Valueleaf Services India, Magzter, GolBol, Vebbler and Cognirel.

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