Rigi raises ₹100 cr from Elevation Capital, MS Dhoni, Cred’s Kunal Shah and more

• Rigi Raised $25 million in three rounds conducted in the past 14 months.
  
• The startup helps creators and influencers grow, monetize and manage their content.
  
• The company plans to use the money to expand into newer categories and regions.
  

Rigi, a platform that allows creators and influencers to manage and monetize their communities, said on Wednesday it has raised ₹100 crore. Calling it Series A renewal round, the startup is led by Elevation Capital; with the participation of Accel, Stellaris and Sequoia among other things.

Angel investors like former cricketer Mahendra Singh DhoniKunal Shah (Founder of Cred), Amit Agarwal (Founder of NoBroker), Chakradhar Gade (co-founder of Rural delight), Sharan Hegde (CEO of The 1% Club) also invested in the round.

Founded in 2021 by Swapnil Saurav and Ananya Singhal, Rigi targets knowledge makers in fields like education, fitness, gaming etc. It provides them with an end-to-end ecosystem to manage their communities, with a focus on monetization . It offers tools such as subscription management, courses, live workshops, paid one-on-one interactions, and integration with social platforms.

Rigi has raised $25 million in three rounds in the last 14 months. It plans to use the latest funds raised to expand into newer categories and regions.

“Creator economy is a new paradigm of employment. It’s here to stay in India, Southeast Asia and worldwide. But this is a nascent ecosystem. All makers need tools to be more efficient and grow. Rigi has created a range of world-class products that have a 10x positive impact on maker companies,” said Prayank Swaroop of Accel India.

Since its inception in October 2021, Rigi claims to have helped over 10,000 creators in over 30 categories. Recently it has also expanded to Indonesia.

“Experts in a variety of fields, including education, health and fitness, skills training, and gaming, are sought after by users for specialized advice on these topics. Users are now willing to pay these makers for personalized advice rather than relying on a generic, one-size-fits-all approach. Our goal is to support these creators in this aspect of their journey so they can focus on what they do best: adding value to their audience’s lives,” said Swapnil Saurav, co-founder of Rigi.

According to Rigi estimates, the creator economy is valued at more than $100 billion worldwide.

“At Elevation, we strongly believe in the growth potential of the creator economy, as evidenced by our previous investments in companies such as Sharechat, Turnip and headphones. In just under two years of existence, Rigi has empowered thousands of creators to become entrepreneurs – a testament to the unparalleled client love they’ve received,” said Mayank Khanduja, partner at Elevation Capital.

Ananya and Swapnil, both fellow BITS Pilani sufferers, had previously founded HalaPlay, which was acquired by Nazara Technologies and Delta Corp in 2020. While working with social media influencers at HalaPlay, they recognized the growing presence of online creators and the potential of influencer communities, which led them to found Rigi.

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