Telstra invests in Asia-Pacific location-based ad tech company

AdNear's mobile marketing technology taps into location-based user data to sell programmatic advertising to mobile devices

Location intelligence and ad programmatics vendor, AdNear, has secured US$19 million from Telstra and Global Brain to expand its presence across Asia-Pacific.

The company uses mobile towers and Wi-Fi signals to collect anonymous user data, which it then turns into insights in order to target third-party advertising content to mobile audiences. It claims brands already using its real-time bidding platform include Procter & Gamble, Woolworths, Audi, Unilever, BMW, Ford, Samsung and Ikea.

In the latest series B capital raising round, the Singapore-based ad tech company brought in US$19m from new investors, Telstra Ventures and Global Brain, a venture capital firm, as well as existing sponsors, Sequoia Capital and Canann Partners.

AdNear held its first round of funding in 2012, raising US$6.3m from Sequoia Capital and Canaan Partners to support its expansion in the Asia-Pacific region as well as to grow its team. The company claims to be adding 1.2 million anonymous device users daily to its probabilistic profiles database, and to have profiles more than 530 million users across the region, with 8.4 billion location footprints across more than 5000 cities.

AdNear has operations in Australia, Singapore, India and several Southeast Asian countries and says the extra funding will go towards expanding its reach, as well as bringing several new dataset offerings to market.

Telstra Ventures managing director, Mark Sherman, said mobile advertising continues to grow rapidly across Asia-Pacific. As part of the latest deal, Sherman will join AdNear’s board of directors.

“Telstra Ventures recognises the value that AdNear’s probabilistic, data-driven approach brings to advertisers and we’re excited to be able to provide capital to accelerate the expansion of AdNear’s operations,” he said.

Related: What you need to know about location-based marketing

Canaan India managing director, Rahul Khanna, pointed out AdNear had seen 12x growth in its device user base over the past year.

“We are very excited about AdNear taking its offerings to new markets. With data-driven marketing opportunities increasing by the day, AdNear’s data insights become very valuable,” he said in a statement.

CEO of AdNear, Anil Mathews, was thrilled to have its two new financial supports on-board.

“Our proprietary technology enables us to help major brands across Asia-Pacific fine-tune their consumer targeting by having access to real-time location intelligence,” he said. “Location data-driven insights are extremely powerful and marketers can use these data points to understand consumer behaviour and also build customised campaigns as per their target audience.

“We are constantly experimenting with location datasets for various use-cases and will be productising some of these in the coming months.”

AdNear is one of several companies working to tap into the growing need for location-based marketing services. Last month, rival US-based localisation ad technology vendor, xAd, confirmed that it had raised US$50m for its global expansion efforts, the fourth round of fund raising since its launch in 2009.

Facebook is also getting in on the location-based advertising act and launched a new feature earlier this month allowing advertisers to pitch content to mobile users using their geographic radius.

Signup to CMO’s email newsletter to receive your weekly dose of targeted content for the modern marketing chief.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, or join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

More Videos

It's an interesting direction, and fair play that they've backed what their service differentiator in the market is. It's a bit clunky bi...

Jeff

Versa launches bot-activated website

Read more

Algorithms that can make sense of unstructured data is the future. It's great to see experts in the field getting together to discuss AI.

Sumit Takim

In pictures: Harnessing AI for customer engagement - CMO roundtable Melbourne

Read more

Real digital transformation requires reshaping the way the business create value for customers. Achieving this requires that organization...

ravi H

10 lessons Telstra has learnt through its T22 transformation

Read more

thanks

Lillian Juliet

How Winedirect has lifted customer recency, frequency and value with a digital overhaul

Read more

Having an effective Point of Sale system implemented in your retail store can streamline the transactions and data management activities....

Sheetal Kamble

​Jurlique’s move to mobile POS set to enhance customer experience

Read more

Blog Posts

Brand storytelling lessons from Singapore’s iconic Fullerton hotel

In early 2020, I had the pleasure of staying at the newly opened Fullerton Hotel in Sydney. It was on this trip I first became aware of the Fullerton’s commitment to brand storytelling.

Gabrielle Dolan

Business storytelling leader

You’re doing it wrong: Emotion doesn’t mean emotional

If you’ve been around advertising long enough, you’ve probably seen (or written) a slide which says: “They won’t remember what you say, they’ll remember how you made them feel.” But it’s wrong. Our understanding of how emotion is used in advertising has been ill informed and poorly applied.

Zac Martin

Senior planner, Ogilvy Melbourne

Why does brand execution often kill creativity?

The launch of a new brand, or indeed a rebrand, is a transformation to be greeted with fanfare. So why is it that once the brand has launched, the brand execution phase can also be the moment at which you kill its creativity?

Rich Curtis

CEO, FutureBrand A/NZ

Sign in