Recommend.ly to tap VCs for raising USD 6 mn by year-end

MUMBAI: US firm Recommend.ly today said it is looking at raising USD 5-6 million through venture capital by year-end.

"We are looking at raising USD 5-6 million from venture capitalists by year-end to fund our expansion plans. Our talks are in advanced stage," Recommend.ly CEO Venkata Ramana told PTI here.

The company has already raised USD 1 million through angel funding 15 months ago, he said.

Recommend.ly aims to simplify social media management for busy Page owners and in the development of applications for developing easiest ways to gain popularity on Facebook, the CEO said.

The new app will help increase people's activity on social media by suggesting relevant, appealing and customised content, based on the interest graph of the user and his social circle, which can be posted with a click.

With Recommend.ly, one can become more popular on Facebook with least amount of time and effort.

The company helps in overcoming the problems by collating and curating interesting and relevant content. These are custom birthday cards, quotes, news, interesting topics based on the users profile and his friends profiles.

Recommend.ly is incorporated in the US and has office in Mumbai. The promoters have experience in scalable technology and have executed over 500 digital marketing projects across various verticals and for large and small brands, Ramana said.