- Near, one of the world’s largest sources of intelligence on people and places, announced it raised $100 million in Series D funding
Near — one of the world’s largest sources of intelligence on people and places — announced that it raised $100 million in Series D funding. London-based private equity firm Greater Pacific Capital (GPC) was involved in this funding round. Including this round, Near has raised $134 million from investors including JPMorgan and Sequoia Capital.
Near’s AI makes real-world data actionable and it makes it seamless for users to employ their first-party data and real-world data to deliver superior customer experiences. The Near platform gets data from 1.6 billion users across 44 countries. Brands such as News Corp, MetLife, Mastercard, and WeWork turn to Near for leveraging continuous, accurate, and easy to access intelligence on people’s behavior in the real world.
The Near platform is also known for having the largest data set of people’s behavior in the real world. And brands, enterprises, and publishers can use location, transaction, and other unique real-world signals from more than 1.6 billion users in the platform for data enrichment and marketing in a privacy-led environment.
“We are humbled that we were able to close one of the largest rounds in our industry. It is a testament to our offering, which is backed by unique data sets and powerful science,” said Near founder and CEO Anil Mathews. “With the new funds, we will be launching a suite of new data products, powered by the core platform. The funds will help us strengthen our position in existing markets and enter key strategic markets.”
Near also saw significant traction and growth since the launch of its flagship SaaS product Allspark. Allspark enables end-to-end marketing automation for clients and partners across more than 20 countries.
Mathews also pointed out that Near is a “rare example” of a true SaaS business focused on generating long-time customer value and sustainable revenues. And Near’s Allspark product “has scaled its SaaS revenues faster than anything we have historically seen.”
“Near provides insights into human behavior by analyzing where people are, and combining that with a multitude of data points to predict and influence behaviour. Given it does this across the globe in a privacy protected manner, it is well-positioned to create an exciting new space that delivers value to both people, and those that wish to build relationships with them,” explained GPC CEO Ketan Patel.
