AnyMind, an AI based online advertising company makes $13.4M

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Image Credits: AnyMind Group

Singapore based company AnyMind pulled a substantial amount of $13.4 million in HR, marketing and online advertising. The company was previously known as AdAsia.

The company got funds from LINE Corporation, a communication platform, and developer of LINE messenger and Mirai Creation Fund. This partnership was backed up by Toyota Motors Corporation.

The funds are used to develop these existing platforms for marketing, advertising, and HR and to carry out these initiatives effectively. AnyMind Group’s primary goal is to fund its business collaborations with Mirai Creation Fund and LINE Corporation.

AnyMind’s subsidiary focus is on digital advertising with LINE and other ad-related initiatives.

It uses AI to offer advert solutions to publishers and advertisers and will also collaborate with TalentMind, a recruiting software based in Singapore which also belongs to AnyMind.

Since it was founded in April 2016, AnyMind (previously called AdAsia) started as an AI-based digital advertising platform. They aimed to aid media outlets to manage the price demand from advertisers effectively.

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By then, the company had expanded to more than 11 countries across the Asia Pacific. The revenues were made up to $26 million in 2017. The company claimed to have been operating at its profits since January.

At the moment, AnyMind is holding more than 12 billion monthly impressions across more than 800 publishers in Asia through a display and video advertising.

“We have experienced great growth in the past 2.5 years, and are now looking to enter our next phase of progress – expanding market share in the geographies and industries we’re in. As we’ve been operating at a profit since January 2017, our focus for this round was to select investors that could take us to that next level of growth, – Kosuke Sogo, CEO of AnyMind Group.

As part of the strategic collaboration, LINE corporation will work with AnyMind Group’s child company AdAsia Holdings for promoting digital advertising. The company provides online media owners that consolidate sources of the advertiser with AI optimizer and dynamic floor pricing for the space of advertisement.

“Mirai Creation Fund supports the development and expansion of AI-driven business by utilizing
knowledge gained from past investments in many AI companies. In addition, Mirai Creation Fund, in cooperation with its limited partnership companies, intends to conduct more sophisticated advertising and marketing activities in Japan and other Asian countries by utilizing AdAsia’s platform,” – Shuhei Abe, CEO and founder of SPARX Group.

Today the company has 12 offices including a product development center in Vietnam along with 11 markets in Asia. It employs about 330 people and serves over 1000 clients altogether for its three business.

AnyMind is very keen to expand their digital markets in India and the Middle East next year. They will also develop another software in these two regions based on AI-driven technology.

AnyMind acquired FourM, a Japanese publisher in October 2017. A year after that, the company also acquired Acqua Media, another publisher based in Hong Kong in September 2018.

Let’s see what this venture brings for us! Stay tuned for more updates.

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