Appier, a Taiwan-based artificial intelligence (AI) company, announced that it has secured a series C investment of US$33 million from SoftBank Group Corp., LINE Corporation, NAVER Corporation, Singapore-based EDBI and Hong Kong-based AMTD Group.
This brings the total amount of VC investment in the company to over US$82 million, it said in a statement. The company last raised US$42.5 million in a series B round from a unit of Temasek Holdings, WI Harper Group, FirstFloor Capital and Qualgro in December 2016.
The additional funds will enable Appier to expand its portfolio of AI solutions and build more functionality for enterprises who want to take advantage of recent advances in AI technology. The new investment will also enable Appier to continue to hire global talent as it extends its engineering and artificial intelligence research capabilities beyond Taiwan, to markets such as Singapore.
"Appier believes artificial intelligence can solve many challenges faced by today’s enterprise. Our platforms have helped our customers succeed in digital advertising and marketing, and we are now looking to bring AI to other parts of the enterprise. We are looking forward to partnering with our series C investors as we embark on our next stage of growth," said Chih-Han Yu, CEO and co-founder of Appier.
Appier’s first product, the CrossX Programmatic Platform, brought AI into digital marketing. Its second, Aixon, is a data intelligence platform that allows business users at a variety of enterprises to identify new customers, enhance their understanding of their customer base, and make predictions using AI. The company has doubled revenues over the three quarters since November 2016, it said in an announcement.
"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. 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. Appier’s approach to AI for the enterprise is unique and we look forward to partnering with them as they build exciting new AI solutions for business," said Ren Tanaka, Corporate Officer and Deputy Head of Business Unit at SoftBank Group Corp.
Founded in 2012 by a team of computer scientists and engineers with expertise in AI, data analysis and distributed systems, Appier serves around 1,000 global brands and agencies from offices in 14 markets across Asia, including Taipei, Singapore, Kuala Lumpur, Tokyo, Osaka, Sydney, Ho Chi Minh City, Manila, Hong Kong, Mumbai, New Delhi, Jakarta, Seoul, and Bangkok.