Rigi, a community monetization and management platform for content creators and influencers has raised Rs 100 crore (approximately $12.25 million) in a fresh round of funding led by Elevation Capital. The Series A round extension included participation from previous investors Accel, Stellaris, and Sequoia.
New angel investors include cricketer Mahendra Singh Dhoni, CRED Founder Kunal Shah, NoBroker Founder Amit Agarwal, Country Delight Founder Chakradhar Gade, and finance content creator Sharan Hegde, among others, also participated in the round.
Rigi has now successfully raised $25 million in three rounds of funding. It had previously raised $10 million in a Series A round of funding in April 2022.
The startup plans to expand its reach to new content categories and geographies with fresh capital. Currently, it focuses on gaming, skill training, health, and fitness, and it launched in Indonesia three months ago.
Rigi offers access to various tools, including subscription management, paid workshops, live one-to-one classes, and integration with platforms like Telegram and WhatsApp.
“Generation one platforms like YouTube, Twitter, etc., have done their job well by giving a distribution platform to creators. Platforms like Rigi will help these creators monetize their distribution. We are not focused on more users or business,” said Swapnil Saurav, Co-founder of Rigi.
Rigi charges a commission on the course fee from the content creators. The courses include webinars with both pre-recorded and live content, with 60% of the platform’s content being recorded and hosted on Rigi’s servers for paying users. The platform typically works with creators with more than 50,000 Instagram or YouTube followers.