Appier Raises US$23 Mil. For Asia Expansion
TAIPEI, Taiwan/PRNewswire/ -- Today, artificial intelligence company Appier announced that it has closed US $23 million in Series B funding from UOB Venture Management Pte Ltd (UOBVM), Sequoia India, JAFCO Asia, TransLink Capital, and MediaTek Ventures. The company will use the funding to further expand in Asia and strengthen the research and development team behind its cross screen AI technology. In total, Appier has raised US $30 million .
Mr Seah Kian Wee , Managing Director of UOBVM, which focuses on private equity investments in Southeast Asia and China , said, "With research showing Asia's lead in digital innovation and the dynamism of Asian consumers' behaviour in their use of multiple electronic devices, there is huge potential for the mass adoption of cross screen technology here. Appier has a strategic advantage with its early investment in the region, especially in Southeast Asia ."
Consumers now regularly move between smartphones, tablets, PCs, and even smart watches throughout the day. In Asia alone, eight markets saw growing numbers of people using two or three screens in the first half of 2015. 1 Cross screen behaviors and habits differ from market to market: for example, although much of Asia sees highest tablet usage on weekends, Indian tablet users are most active on weeknights, while Australian PC users are most active on Sundays. Advertisers trying to reach customers online face mounting complexity as the number and types of screens multiply. AI can help navigate the complexities and help predict both how people travel across PCs, smartphones, tablets and TVs, and the best way to reach them.
"We are living in a post-mobile era: the era of cross screen," said Chih-Han Yu , CEO and Co-founder of Appier. "Artificial intelligence is the best approach to resolve this complexity and make cross screen easy. In fact, advertising is just the beginning. We believe in the future our AI can help businesses solve a variety of difficult analytical problems."
Since Appier started three years ago, it has seen strong growth: over 300% in the past year, and 600% since the Series A round in June of 2014.
"We're delighted with the progress at Appier in the last 18 months since we partnered with them. Appier has assembled a team of very accomplished AI scientists, for solving a very important and challenging set of problems in the cross screen internet era. Their stellar growth across multiple countries, borne out of results delivered for 500 advertisers, gives us high conviction that Appier can continue to scale rapidly." said Shailendra Singh , Managing Director, Sequoia Capital India Advisors.
"Appier's performance over the past few years is a powerful testament to the strength of their technology and their team," said Edward J. Lee , Associate Director at JAFCO Asia. "We're very excited to partner with them to help fuel their next phase of expansion in Japan and across Asia ."
1 Source: Appier Cross Screen User Behavior Report, 1H 2015