Financing to help launch new suite of data products and expand into strategic markets
New York / San Francisco — July 16, 2019 – Near, the platform that leverages AI to make real-world data actionable, announced today 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.
“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 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.”
Near makes 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 true 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.
Near is the world’s largest source of intelligence on people and places, processing data from over 1.6 billion monthly users across 44 countries. The Near Platform powers data-driven marketing and enrichment offerings through a suite of SaaS products. The users of the platform can leverage audience, spatial, retail, among other data in a privacy-led environment.
Founded in 2012, Near is headquartered in Singapore with offices in San Francisco, New York, London, Bangalore, Tokyo and Sydney. Today, marquee brands such as News Corp, MetLife, The We Company and Mastercard work with Near to provide enhanced customer experiences. Near is backed by leading investors including Sequoia Capital, JP Morgan Private Equity Group, Cisco Investments and Telstra Ventures. Visit www.near.co to find out more.