Start-up Near Raises $100 Million for Consumer Profiling AI

Near, the company that built the AI platform called Allspark that works across 44 countries to create anonymized, location-based profiles of users, has raised $100 million.

Near has a patented technique based on machine learning to accurately merge a collection of data points together to create individual consumer profiles, all without ever attaching a name or real identifiers of any kind to that profile.

The company believes that this Series D, from a single backer, Greater Pacific Capital (GPC) out of London, is one of the biggest rounds ever to be raised in this particular area of marketing technology.

Near is not disclosing its valuation, but founder and CEO Anil Mathews said in an interview that the company has been growing at a rate of 100% year-on-year and described it as “healthy,” with its customer list including News Corp, MetLife, Mastercard and WeWork.

Near, not to be confused with the blockchain startup that raised $12 million last week, has already raised $134 million, with other backers including Sequoia, JP Morgan, Cisco and Telstra.

Source: Near