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AdNear raises US$19 million in Series B funding

Zafirah Salim | Oct. 15, 2014
According to the location intelligence company, this funding will be used to help accelerate its global expansion.

Location intelligence company AdNear, announced today that it has raised US$19 million from Telstra Ventures and Global Brain, including existing investors Sequoia Capital and Canaan Partners, as part of its strategic plan to expand into multiple new markets.

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

"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," said Anil Mathews, CEO of AdNear.

"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," he added.

 

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