Funding

AnyMind Group Closes Series B Funding Round

The funds will also be used for potential strategic acquisitions in the advertising, influencer marketing and human resource industries, and acceleration of talent and product growth
AnyMind Group Closes Series B Funding Round
Image credit: Facebook: AnyMind Group
Former Correspondent, Entrepreneur Asia-Pacific
3 min read

The demand for online advertising is at an all-time high. The increasing mobile video consumption has raised the digital ad spending per year. Startups are doubling down on technologies to get value for brands. 

Singapore-based AnyMind Group is using artificial intelligence technology to make ad-tech the next big thing. The AI solutions provider for the advertising, influencer marketing and human resource industries, has announced the closure of its Series B Plus round at US$8 million, bringing the company’s Series B total to US$21.4 million and total current funding to US$35.9 million. 

The new investors are VGI Global Media Plc (VGI), Thailand’s leading offline-to-online solutions provider across advertising, payment and logistics platforms, and Tokyo Century Corporation, a Japanese financial services company. 

“We’re excited for the future opportunities to partner up with AnyMind Group and its advertising technology, potentially allowing us to offer a fully integrated solution through the sales & marketing funnel,” said Nelson Leung, chief executive officer, VGI in a statement.

Decoding AnyMind Plans:

As part of the investment, the startup will look to enter a joint venture with VGI to integrate digital-out-of-home (DOOH) advertising technology to VGI-owned out-of-home advertising spaces in Thailand. Covering a potential daily media reach of 40 million people, the digital advertising spaces include digital signage on train platforms, transportation, buildings, streets and digital billboards, along with future out-of-home advertising inventory partnerships, with the objective to create more connected, dynamic and interactive advertising experiences. 

Through mounted cameras placed together with digital signage, viewers will be able to view more personalized advertising. This is done through computer vision to determine gender, age group and location, allowing for advertisements and content to be matched, optimized and shown to the most relevant audience segments.

Push To Advertising, Influencer Marketing And Human Resource Industries:

This follows AdAsia Holdings’ pilot DOOH advertising project with East Japan Railway Company Limited in December 2018, providing a dynamic DOOH solution to serve advertising through digital billboards in train stations, and measure the effectiveness of ads through actual view rate and reaction. Advertisers and marketers will be able to purchase DOOH and connected advertising inventory through the AdAsia Digital Platform for Advertisers. 

Apart from the expansion of offerings into digital-out-of-home (DOOH) advertising, the funds will also be used for potential strategic acquisitions in the advertising, influencer marketing and human resource industries, and acceleration of talent and product growth. 

“With our vision to empower the growth of professionals, businesses and industries through technology, and newly onboarded investors, we’re now in a strong position to propel forward the advertising, influencer marketing and human resource industries in Asia,” said Kosuke Sogo, chief executive officer and co-founder, AnyMindGroup

Started off as AdAsia Holdings, in the advertising technology sphere in April 2016, Singapore-based AnyMind Group’s aim is to help marketers, advertisers, and online media publishers leverage on technology through a single, easy-to-use platform.

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