AdNear raises Rs 35 crores from Canaan Partners and Sequoia Capital; Will Expand to APAC
AdNear are the pioneers of location based mobile advertising and are currently serving in India, Singapore, Australia, and other Asia-Pacific countries. Leveraging precise location, behaviour, and profiling of consumers, AdNear helps advertisers reach the most relevant audience.
Rahul Khanna, Managing Director, Canaan India said, “AdNear’s breakthrough technology allows advertisers to deliver hyper targeted ads to mobile devices, delivering superior performance and engagement. We are excited to support a company that is defining mobile advertising 2.0 and look forward to leveraging our expertise in the digital media domain to support the company’s international expansion.”
Mohit Bhatnagar, Managing Director, Sequoia Capital said “AdNear offers a unique opportunity for brands to engage with their consumers in a relevant yet non-intrusive way. AdNear has pioneered a location based advertising platform based on their proprietary technology and location database. Importantly after establishing Adnear in india, The company is now ready to expand at an international level."
AdNear’s advertising platform is built on top of proprietary hybrid geo-location platform which helps provide location awareness on phones without the need of GPS or operator assistance. AdNear services are currently used by major brands and advertisers including Toyota, Titan, Ford, PizzaHut, Samsung, Nokia and Airtel.