Taiwan-based advertising technology developer Appier secured an additional $19.5m from investors including Singapore state-owned investment firm Temasek Holdings yesterday, bringing its total series B fundraising haul to $42.5m.
Temasek invested through its private equity firm Pavilion Capital, which participated in the extension alongside investment firms WI Harper Group, FirstFloor Capital, and Qualgro.
In November 2015, Appier closed an initial $23m series B tranche featuring fabless semiconductor manufacturer MediaTek’s corporate venturing unit MediaTek Ventures and financial services firm United Overseas Bank’s investment arm, UOB Venture Management.
Venture capital firms Sequoia India, Jafco Asia and TransLink Capital also contributed to the first close.
Founded in 2012, Appier has developed an artificial intelligence (AI) platform to analyse and predict user behaviour across multiple screens in real time to help marketing departments run more precisely targeted advertising campaigns.
The company will use the fresh capital to continue its R&D activities of of AI-powered products, support hiring and drive an expansion in Asia, announcing a pilot launch of its Aixon platform in Taiwan, Japan and Singapore.
The latest funding round brings Appier’s total funding to date to $49.5m, including a $6m series A round in 2014 provided by Sequoia Capital, owner of Sequoia India. Appier has not disclosed the source of the remaining $1m of its $49.5m fundraising total.
Chee-Kong Choun of Pavilion Capital said: “With its early investment in cross screen artificial intelligence, Appier is at the forefront of major changes sweeping the technology industry. We’re excited to partner with Appier as it moves into the next phase of its product development and growth.”