Sunday, May 26

Singapore-based AnyMind Raises $13.4 Million for Expansion

A Singapore-based AI company AnyMind Group has secured funds amounting to $13.4 million in a funding round. This round was led by Line, the Japanese messaging app firm, and Mirai Creation Fund, which is backed by Toyota among others.

The company that uses AI in online advertising, HR and marketing is planning to use these funds for its growth in Japan and other Asian markets. Other backers such as JAFCO and Dream Incubator also took part in this round.

AnyMind uses AI to offer ad solutions to publishers and advertisers and also to its newer businesses TalentMind (HR) and CastingAsia, influencer marketing. Founded in April 2016 by Kosuke Sogo and Otohiko Kozutsumi the company claims to be profitable since early 2017. It said total revenue for 2017 was $26 million, up from $12.9 million one year previous.

“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,” Sogo, AnyMind’s CEO stated.

Currently, the company has 2 offices that includes a product development center in Vietnam and it provides services in 11 markets across Asia. AnyMind said it is keen on the connections that this investment can bring.