SoftBank's Appier Raises Fund For AI Marketing Platform
Zacks Investment Research | Nov 25, 2019 09:52PM ET
SoftBank Group Corp. (OTC:SFTBY) backed Appier Inc. has raised $80 million from TGVest Capital, HOPU-Arm Innovation Fund, Temasek’s Pavilion Capital, Insignia Venture Partners, JAFCO Investment and UMC Capital.
Founded in Taipei in 2012, Appier is a tech company that provides artificial intelligence (AI) platforms to help enterprises solve their business problems. The company currently has more than 400 employees across 14 offices in 12 markets. It is looking to expand globally and into new industries beyond digital marketing. The latest capital injection is likely to reinforce its current product suite.
Appier has raised $162 million in funding to date from investors including Sequoia Capital, SoftBank and Line Corp (NYSE:LN). Its products help retailers retain customers and advertisers capitalize on consumer behavior, using its AI platform. The company has acquired two start-ups since 2018, QGraph and Emotion Intelligence.
Appier’s core product is a cross-platform advertising engine, CrossX, which includes retargeting and app installations. It helps enterprises become data driven with cutting-edge technology at the core. It is expected to continue to grow as a sustainable tech company at the forefront of innovation. The company aims to revolutionize the way enterprises adopt AI to remain competitive and manage business transformation.
Shares of SoftBank have gained 20.2% against the Original post
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