Digital Refresh Networks raises $6 million

Indian buyout firm TIW Private Equity has acquired a majority stake in Mumbai-based Digital Platform Management firm, DigitalRefresh Networks. The deal size is $6 million, giving Digital Refresh bandwidth to strengthen their core services and for acquisitions. Digital Refresh Networks (formerly Digital F5) was founded in 2011 in Mumbai by Ravi Dubey and Barin Mukherjee. Digital Refresh enables delivery of brand objectives on the web, mobile and social media through communication and commerce applications, audio-video elements and customized digital solutions. The company plans to utilize the proceeds from the investment to strengthen its expertise in content creation.

“Digital Refresh Networks has a highly capable team led by Ravi and Barin. The company has been able to acquire and retain quite a few marquee clients, which gives us a lot of confidence as far as business sustenance goes. The team has demonstrated capability in developing new products and services, that will aid in driving growth for the company in the quarters ahead. We also believe that the macro for digital consumption, driven by higher internet adoption and evolving consumer behaviour, is fairly solid. Significant value can be unlocked in this space by focusing on cost efficiencies around operating processes and through acquisitions”, said Mohit Ralhan, Managing Partner and Chief Investment Officer, TIW Private Equity.

Ravi Dubey, co-founder and Executive Director, Digital Refresh Networks, stated, “Our vision is to build a digital-first communication and commerce company which provides better ROI for brands across all platforms. We intend to immediately acquire full-service capabilities in digital content creation, and build competencies in platform and market-place management.”

“We are extremely happy to partner with TIW Private Equity in this journey ahead. We believe their ability to drive operational efficiencies and scalability of business. This should help us in overall growth, as well as sustenance of margins”, added Barin Mukherjee, co-founder and Chief Executive Officer of Digital Refresh Networks.

Digital Refresh Networks Private Limited (erstwhile, Digital F5) is a digital marketing firm with capabilities in social platforms and interaction management, content creation, performance-based marketing, and customised digital product solutions, specialising in market-place management and e-commerce services.