Mumbai: AdNear, a location-based, mobile-advertising platform, has raised INR 35 crore from Sequoia Capital and Canaan Partners. The funding will be used by the company to support expansion into the Asia-Pacific region and towards growing the team.
AdNear is 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.
“Location-based advertising is growing significantly and brands are increasingly competitive about extending their visible reach and looking at more interactive communication platforms,” Anil Mathews, founder and chief executive of AdNear said in a statement.
“AdNear offers a unique opportunity for brands to engage with their consumers in a relevant yet non-intrusive way,” said Mohit Bhatnagar, managing director of Sequoia Capital.
Source: Live Mint