Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Near raises $100m to build an AI that merges online and offline behaviour

Artificial Intelligence startup Near has raised $100 million as a part of its latest funding round led by London-based private equity firm Greater Pacific Capital (GPC). 

The Singapore-based startup made the announcement on Tuesday, saying in a statement that they would be using the new capital to launch a new suite of data products and expand into strategic markets. 

“With the new funds, we will be launching a suite of new data products, powered by the core platform.” Said Anil Mathews, Near founder and CEO. “The funds will help us strengthen our position in existing markets and enter key strategic markets.”

The Near platform provides data-driven marketing and insights through a SaaS suite of products. According to their website, the Near platform allows users to leverage audience, spatial, retail, and other data in a privacy-led environment.

“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”, explained Ketan Patel, CEO at GPC.

“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.” 

Founded in 2012, Near has so far raised a total of $134 million from investors such as Sequoia Capital and JP Morgan.

Among the organisations using the Near platform, there are News Corp, MetLife, Mastercard and WeWork.

The startup also has a global presence across the US, Europe and Asia, with offices in San Francisco, New York, London, Tokyo, and Sydney.

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BY SHACK15

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