AdNear raises US$19m for world expansion

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ADNEAR, which describes itself as a ‘location intelligence company’, has raised US$19 million from Telstra Ventures and Global Brain to boost its expansion into a range of ocountries.

AdNear’s existing investors, Sequoia Capital and Canaan Partners, also participated in the capital raising round.

AdNear CEO, Anil Mathews said, “We’re thrilled to be joined by investors such as Telstra Ventures and Global Brain in this journey. Our proprietary technology enables us to help major brands across Asia Pacific fine-tune their consumer targeting by having access to real-time location intelligence.

“Location data-driven insights are extremely powerful and marketers can use these data points to understand consumer behaviour and also build customised campaigns as per their target audience.

“We are constantly experimenting with location datasets for various use-cases and will be productising some of these in the coming months,” Mr Matthews said.

Mr Matthews said the basis of AdNear’s business was insights it had gathered from anonymous device users across Asia Pacific, using their historical location footprint and real-world offline data. Leveraging these unique insights, Mr Matthews said AdNear was able to programmatically send relevant ads to mobile audiences on behalf of advertisers using its proprietary real-time bidding platform.

ANear has rapidly grown its client base to include brands such as P&G, Woolworths, Audi, Unilever, BMW, Ford, Samsung, IKEA, and Adidas.

“Mobile advertising continues to grow rapidly across Asia Pacific,” said Telstra Ventures managing director Mark Sherman. “Telstra Ventures recognises the value that AdNear’s probabilistic, data-driven approach brings to advertisers and we’re excited to be able to provide capital to accelerate the expansion of AdNear’s operations.”

Mr Sherman has joined the AdNear board of directors. AdNear currently has operating offices in Sydney, Singapore, Bangalore, San Francisco and Jakarta.

www.adnear.com

 

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