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8/2/2019 7:50:08 AM
More AI tools to come from Near's $100M raise
Software as a Service,AI Tools,Artificial Intelligence
App Developer Magazine
More AI tools to come from Nears $100M raise

Artificial Intelligence

More AI tools to come from Near's $100M raise

Friday, August 2, 2019

Richard Harris Richard Harris

More AI tools to come from Near's $100M raise. The new financing will help launch a new suite of data products and expand into strategic markets.

Near, the platform that leverages AI to make real-world data actionable, has 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, including from Sequoia Capital and JP Morgan.

The Near platform has the largest data set of people’s behavior in the real world. Brands, enterprises, and publishers can use location, transaction and other unique real-world signals from more than 1.6 billion users in the platform for data enrichment and marketing, in a privacy-led environment.

New funds, new AI tools

"We are humbled that we were able to close one of the largest rounds in our industry. It is a testament to our offering, which is backed by unique data sets and powerful science,” said Anil Mathews, the founder, and CEO of Near. “With the new funds, we will be launching a suite of new data products, powered by the core platform. The funds will help us strengthen our position in existing markets and enter key strategic markets.” 

Near has seen significant traction and growth since the launch of its flagship SaaS product, Allspark, the first of its kind in the industry. Allspark enables end-to-end marketing automation for clients and partners across more than 20 countries.

“We are a rare example of a true SaaS business focused on generating long-term customer value and sustainable revenues,” Mathews added. “We are the only company aggregating this quality and scale of data at a global level. Our product Allspark has scaled its SaaS revenues faster than anything we have historically seen.”

Ketan Patel, CEO, GPC, commented, "Near provides insights into human behavior by analyzing where people are, and combining that with a multitude of data points to predict and influence behavior. 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.”

Near aims to make it seamless for users to employ their first-party data, and real-world data to deliver superior customer experiences. With a global presence across the U.S., Europe, and Asia-Pacific, Near is the only truly global player in the industry. 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 behavior in the real world.

Under the Hood - Technology Driving the Near Data Platform

Read more: https://near.co

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