AdNear Raises US$19 million in Series B Funding To Boost Global Plans

AdNear, a leading location intelligence company, today announced it has raised US$19 million from Telstra Ventures and Global Brain as part of its strategic plan to expand into multiple new markets. Both its existing investors, Sequoia Capital and Canaan Partners, also participated in the capital raising round.adnear
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.
The company has so far raised $25.3mn round.

AdNear : Growth TImeline
AdNear : Growth TImeline

In 2012 AdNear closed its Series A round of funding of US$6.3 million 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 million anonymous device users daily to its probabilistic profiles database.

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