Telstra-backed data and martech company Near has raised USD$100 million (AUD$143M) in a Series D funding round, from private equity firm Greater Pacific Capital.
With this fresh investment, Near has raised a total of $134 million to date, including from Sequoia Capital, JP Morgan and Telstra Ventures.
The company says the Near platform contains data from 1.6 billion people including, location and transaction data, which can be used by brands and publishers enrich their marketing activities.
“We are humbled that we were able to close one of the largest rounds in our industry. It is a testament to our offering backed by unique data-sets and powerful science,” said Anil Mathews, founder and CEO, Near.
“With the new funds, we will be investing heavily in data and engineering to launch a suite of new products, that’ll help strengthen our position in existing markets such as Australia and the US, and open up key strategic markets.”
Near’s local customers include News Corp Australia, MCN and Telstra.
News Corp Australia uses the Near platform to enhance the capabilities of News Connect, its audience activation platform.
“Our strategic partnership with Near has helped us take News Connect to new levels. We’ve been able to unlock greater potential in our data by enriching it with the real-world data from the Near platform, helping us uncover new audience characteristics. This has helped us enhance our capability to deliver 1,900 customer segments to our clients. It is a true game-changer for Australian marketers,“ said Suzie Cardwell, General Manager of Data Commercialisation, News Corp Australia.
Founded in 2012, Near is headquartered in Singapore with offices in San Francisco, New York, London, Bangalore, Tokyo and Sydney. Its early investors include Telstra Ventures and Sequoia Capital.
Gurpreet Ghuliani, Head of Strategic Synergy, Telstra Ventures said, “We first invested in Near in 2014 when the use of real-world data, especially location data, in marketing and decision-making was still nascent.
“Near is one of the market leaders in the Australian market when it comes to understanding real-world consumer behaviours in real-time. Global customers including some of Telstra clients have been able to drive business value from the actionable, and easy to access intelligence provided by the Near Platform.”