Near raises $100m for new platform offering
Near, the platform that uses AI to make real-world data actionable, announced that it has raised $100 million in a new round of funding.
The investment comes from London headquartered private equity firm Greater Pacific Capital (GPC). With this fresh investment, Near has raised a total of $134 million to date, and is backed by venture capitalists Sequoia Capital, JP Morgan Private Equity Group, Cisco Investments, Telstra Ventures, and Global Brain Japan.
“We are humbled that we were able to close one of the largest rounds in our industry. It is a testament to our offering backed by unique data-sets and powerful science,” says Anil Mathews, founder & CEO, Near. “With the new funds, we will be launching a suite of new data products, powered by the core platform. Further, the funds will not just help us strengthen our position in the existing markets, but also to open up key strategic markets.”
Near has seen traction and growth since the launch of its software-as-a-service (SaaS) product, Allspark, that enables end-to-end marketing automation for clients and partners across 20+ countries.
“We are a rare example of a true SaaS business focused on generating long-term customer value and sustainable revenues. Our product Allspark has scaled its SaaS revenues faster than anything we have historically seen.” Mathews adds.
Ketan Patel, CEO, GPC, comments: “Near provides insights into human behaviour by analysing where people are and combining that with a multitude of data points to predict and influence behaviour. Given it does this across the globe in a privacy protected manner, it is well-positioned to create an exciting new space that delivers value to both people, and those that wish to build relationships with them.”
Key brands such as News Corp, MetLife, Mastercard and WeWork work with Near to leverage continuous, accurate and easy to access intelligence on people’s behaviour in the real-world.
Founded in 2012, Near is headquartered in Singapore with offices in San Francisco, New York, Bangalore, Tokyo and Sydney. Marquee brands including News Corp, MetLife, Mastercard and WeWork work with Near to provide enhanced customer experiences.
