My First Cheque-backed digital advertising firm Offer Grid claims over 100 clients; aiming 12x jump in revenue in FY15

My First Cheque-backed digital advertising firm Offer Grid  claims to have clocked $170,000 in revenues in FY14. The company further claims that it has already crossed last year revenue numbers in the first quarter of FY15 itself and is now targeting $2 million in revenues by the end of this financial year.

The company follows a one price lead model where it charges about Rs 6,200 for 1,000 leads.

The Bangalore-based startup basically unifies all audience channels, sets-up and executes the campaigns, and provides one dashboard interface to the advertisers that enable them to monitor the channel efficiency and ROI. It also helps them target and find customers across search, social, display, video, contextual, mobile & emerging channels and then engage with them using email, SMS & mobile apps.

The market size of this product is $243 billion, Offer Grid's co-founder Deepankar Biswas estimates. "India has about 50 million small and medium businesses. The SMB fraternity is fast adapting cost-effective and competitive technological solutions to leverage the power of digital advertising. Of a total of about $1.2 billion spent by SMBs on overall advertising, $100 million is being spent on digital advertising," he said.

This Ginserv accelerated startup claims to have over 100 clients in India, Singapore, and Australia including TrendIn (Aditya Birla Group), Oliveplanet and Shopify, among others. It is planning to open an APAC office (probably out of Singapore) and will expand to at least five countries by the year end.

Biswas mentions that the company is in talks to raise $3 million in the next round of funding, which will be used to expand in newer markets and to roll out new solutions to help brands lift the ROI of their businesses in a big way.

Started with a seed capital of Rs 25 lakh raised from My First Cheque in 2011, the company claims to be cash flow positive since last year. Presently, it has 10 employees. Founded by Biswas and TN Raja as a deal aggregation exchange, Offer Grid later pivoted to a digital advertising firm. It competes with the likes of Sokrati and US-based Turn.com.