AdNear raises $19 Mn in Series B Funding To Accelerate Its Global Expansion Plans

AdNear raises $19 Mn in Series B Funding To Accelerate Its Global Expansion Plans

Location intelligence startup AdNear has raised $19 Mn in Series B round of funding from Telstra Ventures and Global Brain with its existing investors, Sequoia Capital and Canaan Partners, also participating in the round.

AdNear has developed insights from anonymous device users across Asia Pacific using their historical location footprint and real-world offline data. Leveraging these unique insights, the company is able to programmatically send relevant ads to mobile audiences on behalf of advertisers using its proprietary real-time bidding platform.

In 2012 AdNear closed its Series A round of funding of $6.3 Mn from Sequoia Capital and Canaan Partners to support its expansion in the Asia Pacific region and grow the team. It has since been adding approximately 1.2 Mn anonymous device users daily to its probabilistic profiles database. Over the last year, AdNear has seen a 12x growth in its device user base.

Anil Mathews, CEO of AdNear said, “Location data-driven insights are extremely powerful and marketers can use these data points to understand consumer behaviour and also build customized campaigns as per their target audience.” Mathews also added: “We are constantly experimenting with location datasets for various use-cases and will be productizing some of these in the coming months.”

AdNear was founded in 2012; it is headquartered in Singapore with a presence across Australia, South East Asia, Japan and India. To date, the company has reached a massive 530+ Mn device users and works with marquee brands such as P&G, Woolworths, Audi, Unilever, BMW, Adidas, Ford, Samsung, and IKEA.

Have look into AdNear’s journey so far..!

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Inc42 Magazine is an online startup magazine that covers some of the best startups and entrepreneurs in the India ecosystem. We also feature numerous guest posts and resources by leading experts from across the industry, including many from the Silicon Valley and Bay Area.
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