Artificial intelligence data startup Appier raises $33M from Softbank and others
Artificial intelligence data startup Appier Inc. Tuesday said it has raised $33 million in a Series C round that was funded by SoftBank Group, Line Corp., Naver Corp., EDBI of Singapore and AMTD Group of Hong Kong.
Founded in 2012, Appier employs artificial intelligence to “help enterprises solve their most challenging business problems” by allowing them to make sense of their own data so as to identify patterns and make informed business decisions. Using deep learning and machine learning, the company claims, its platform allows enterprise users to get insights into customer relationship management data, app data and website data to boost audience engagement, growth and monetization.
While initially focused on data mining for marketing opportunities, the Taiwan- and San Francisco-based company is expanding its AI platform to make predictions that can assist an enterprise in making overall business decisions.
“AI, combined with Big Data, IoT and other disruptive technologies, is going to create an impact on the world that will be bigger than the Industrial Revolution,” Softbank executive Ren Tanaka said in a statement. “We are already starting to see AI generate benefits in many parts of our lives and believe it also has a great role to play within the enterprise.”
Despite the company pitching itself as more than an advertising company using artificial intelligence, the inclusion in the round of Line, the biggest messaging platform in Japan, Taiwan and Thailand, is absolutely ad-related. Line Chief Financial Officer Joon Hwang added that the company expect to “explore more AI and advertising technology opportunities in our key markets.”
Including the new round, Appier has raised $81.5 million to date. Among a number of previous investors, the most notable is Sequoia Capital, the venture capital firm that was an early investor in companies including Apple Inc., Google Inc., YouTube and Yahoo Inc.
Appier said it would use the new funds to expand its head count and to grow its global presence.
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