Appier raises US$ 19.5 million in additional series B funding to fuel AI-powered product development
TAIPEI, Taiwan, Dec. 1, 2016 -- Today, artificial intelligence company Appier announced that it has closed US$ 19.5 million in additional Series B funding from Pavilion Capital International Pte Ltd (a member of Temasek Holdings), WI Harper Group, FirstFloor Capital, and Qualgro. The company will use the funding for AI-powered product research and development and to support continued hiring and market expansion in Asia . In total, this round of funding brings Appier's Series B total to US$ 42.5 million and total funding to date to USD 49.5 million . Since Appier's initial Series B funding last year, Appier's business has tripled.
Appier also announced the pilot launch of Appier's Aixon Platform in Taiwan , Japan and Singapore . A platform that helps a variety of businesses collect and analyze user data to generated insights to inform their marketing decisions, the platform marks a step towards the development of artificial intelligence-powered business tools which can help businesses better inform their decision making through predictive data analysis.
Chee-Kong Choun , from Pavilion Capital International Pte Ltd said, "With its early investment in cross screen artificial intelligence, Appier is at the forefront of major changes sweeping the technology industry. We're excited to partner with Appier as it moves into the next phase of its product development and growth."
The volume of data that businesses have to cope with has exploded. In fact, more data has been created in the past two years than in the entire previous history of the human race. But companies face a challenge when it comes to extracting useful insights from this data, and a shortage both of qualified people and of technology is becoming a serious constraint on business growth.
"Businesses today have to make decisions and operate in an increasingly complex, fast-paced and interconnected online and offline environment. Artificial intelligence is the best approach to resolve the complex questions affecting businesses at scale," said Chih-han Yu, co-founder and CEO, Appier. "This funding will enable us to continue to invest in AI-driven business products that help solve some of the problems facing industry today."
"AI is the next wave of technology disruption that will reshape the world we live and work in. Appier's performance over the past four years is a testament to their vision and focus on technology," said Edward Liu , Partner of WI Harper. "We're delighted to partner with such a talented team as they gear up for the next phase of their growth."
"Making data actionable is a huge problem for businesses today. Since its founding in 2012, Appier has helped brands across Asia make sense of their consumer and their varying journeys across devices. Their continued focus on technology that turns data into insights, borne out in their team of accomplished AI scientists, gives us great confidence in Appier," said Nizar Ali , Managing Director from FirstFloor Capital.
"An Asia-first and cross screen-first technology company, we see Appier as a highly innovative and cost-effective platform to enhance consumer loyalty and conversion, leveraging artificial intelligence," said Heang Chhor , Managing Partner of Qualgro. "We're looking forward to partnering with Appier teams, as they scale up in Australia , New Zealand and the rest of Asia ."