Please tell us about AdNear
We are a leading location intelligence company that leverages historical location and context to power data driven marketing for advertisers. We have built profiles of over 530 million device users in APAC based on historical location data, 3rd party data and content consumption behaviour. Our data platform is built on top of proprietary technology, giving it the strength of location awareness without the need for GPS or operator assistance.
We analyze the location data gathered over time combined with user behavior and context to build audience profiles. We then use it along with other data points to create intelligent targeted advertising capabilities across mobile devices and provide actionable consumer insights to brands.
AdNear was founded in 2012. We are headquartered in Singapore with operations across Australia, South East Asia, India and Japan.
How did you meet with Global Brain?
We considered that Japan would be our next market in terms of the size of the mobile advertising industry. But at the same time we also understood that it is a very unique market, and having a partner with local expertise is vital for a successful entry to the market.
We picked up several firms who might support our Japan entry, and contacted them. At that time we happened to know that Global Brain had been very active to invest in SEA ventures and supported their Japan entry and their partnerships with Japanese companies.
The response from Global Brain was so quick, and they proposed to us that they would arrange meetings with ad-tech companies in Tokyo even before they decided to invest in us.
Why did you choose Global Brain?
We visited Japan several times, and met potential partners with Global Brain. Global Brain explained the structure and characteristics of the Japanese advertising market, and picked up right people in the industry. We highly evaluated Global Brain’s expertise and insights about ad-tech market, and believed that Global Brain would be a trustworthy partner for us.
After our visit to Tokyo, the team of Global Brain visited our Singapore and Bangalore office, and executed very intensive but efficient due diligence within a few days. After the due diligence Global Brain made a decision to invest in us within just 10 days.
During this financing round we were not looking for pure venture capital firms to partner with as we already have Sequoia and Canaan on board. Our focus was a strategic investor who could add value to our business. Global Brain fits perfectly considering they are also helping us establish a new market. The Japanese culture is unique, and we had to keep that in mind – Global Brain’s local partnerships and expertise are vital to the success of an international entrant like AdNear to the Japanese market.
Please tell us about your Japan entry.
It’s been smoother than we thought initially. We’ve already started to work with several Japanese partners, and started receiving orders from global and local brands for targeting Japanese audiences.
These campaigns succeeded very well, and the levels of the satisfactions of our Japanese clients are also high.
Also, Global Brain supported us with recruitment, and we were able to hire an ideal Regional Director for Japan.
What is your goal?
We now have strong support from Japanese and Australian investors, and would like to focus on APAC market to strengthen our position as the No.1 location intelligence platform. We obviously have a lot of hard work to do, but I’m very much confident of it.
After APAC we will evaluate other valuable markets as our next target. We need to be well-prepared in terms of technologies, services, and financial capacity to expand globally.