Location based mobile advertising platform AdNear has raised more than $6 million from Sequoia Capital and Canaan partners in series A funding. The finances will be used to support expansion into the APAC region and towards growing the team.
The company serves India, Singapore, Australia, and other Asia-Pacific countries and makes use of location, behaviour, and customer profile to reach out to relevant audience.
Anil Mathews, founder and CEO of AdNear says that using the companies proprietary location data, it wants to make advertisements more impactful. Both VCs who have backed the company feel that AdNear is ready for an aggressive international play.
AdNear’s advertising platform is built on top of proprietary hybrid geo-location platform which helps provide location awareness on phones without the need of GPS or operator assistance.
The startup already serves brands like Toyota, Titan, Ford, PizzaHut, Samsung, Nokia and Airtel.