Near, a US-based advertising technology developer backed by networking equipment producer Cisco and telecommunications firm Telstra, yesterday raised $100m in funding from private equity firm Greater Pacific Capital.
Formerly known as AdNear, the company has developed an artificial intelligence-powered platform that tracks customer interactions in the physical worlds, using data such as location and transactions. The behavioural data forms the basis for marketing campaigns.
The money will allow Near to develop additional tools, drive an expansion into new markets and strengthen its position in existing geographies.
Cisco Investments, the corporate venturing subsidiary of Cisco, contributed to a series C round of undisclosed size in 2017, investing alongside equity crowdfunding platform OurCrowd.
Near has now raised $134m in funding altogether, it said, which would put the series C round at $8.7m. The company previously obtained $19m in series B funding from Telstra’s investment unit, Telstra Ventures, Global Brain, Sequoia Capital and Canaan Partners in 2014.
Sequoia Capital and Canaan had earlier supplied $6.3m in series A capital in 2012.
