Singapore-headquartered AI platform raises USD 100 million from Greater Pacific Capital

It is one of the largest funding rounds in the industry, the company said.

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Near, a Singapore-headquartered artificial intelligence platform, has raised USD 100 million in its Series D investment round from London-headquartered private investment firm, Greater Pacific Capital (GPC).

The new funds will be used to launch new data products and expand Near’s presence in key strategic markets, founder and CEO Anil Mathews said.

Founded in 2012, Near aggregates intelligence on people and places. It says that its flagship Software-as-a-Service (SaaS) product, Allspark, enables end-to-end marketing automation for clients and partners in more than 20 countries. Near’s clients include News Corp, MetLife, Mastercard, and WeWork.

Near uses its patented technique based on machine learning algorithms and other inferential artificial intelligence technology to analyze and merge data points to create anonymous profiles from around the world. According to Near, it processes data from over 1.6 billion monthly users across 44 countries. These profiles are then used to provide insights into human behavior

Including the funds from GPC, Near has raised a total of USD 134 million to date. It is also backed by Sequoia Capital, JP Morgan Private Equity Group, Cisco Investments, and Telstra Ventures.

GPC’s investment comes nearly two years after Near raised an undisclosed amount from Cisco Investments and OurCrowd in its Series C round in 2017. In 2014, it scored USD 19 million from Telstra Ventures and Global Brain in a Series B round.