Artificial intelligence company (AI) Appier has secured a Series C investment of US$33 million, bringing the total amount of investment in the company to more than US$82 million. The additional funds will allow Appier to expand its portfolio of AI solutions and build more functionality for enterprises that are looking to take advantage of recent advances in AI technology.
Appier's main priority is to extend its engineering and AI research capabilities outside of Taiwan and Singapore. In a statement to Marketing, Jennie Johnson, head of marketing, Appier added that the funds will also be used to expand its operations in current markets such as Singapore, Malaysia and Indonesia, which includes its sales and marketing teams and activities. The marketing activities are to help Appier's customers understand its services better.
“Appier believes artificial intelligence can solve many challenges faced by today’s enterprise. Our platforms have helped our customers succeed in digital advertising and marketing, and we are now looking to bring AI to other parts of the enterprise,” Chih-Han Yu, CEO and co-founder of Appier, said.
“Appier has enabled a growing number of brands to develop consumer-adaptive marketing solutions for the digitally savvy Asian market. We look forward to working with Appier as they apply their AI technology to other exciting areas such as predictive analytics for real-time business decision-making," Chu Swee Yeok, CEO and president of EDBI, said. She added that Appier’s development activities also synergises well with Singapore’s AI.SG initiative to power, build and augment the local AI capabilities and ecosystem,”
“AI, combined with big data, IoT and other disruptive technologies, is going to create an impact on the world that will be bigger than the industrial revolution. We are already starting to see AI generate benefits in many parts of our lives and believe it also has a great role to play within the enterprise. Appier’s approach to AI for the enterprise is unique and we look forward to partnering with them as they build exciting new AI solutions for business,” Ren Tanaka, corporate officer and deputy head of business unit at SoftBank, said.
"Taiwan is one of the key markets for LINE, and our investment in Appier marks our commitment to invest in this market and support local startups to expand globally. We are excited to partner with Appier to explore more AI and advertising technology opportunities in our key markets,” In Joon Hwang, CFO of LINE Corporation, said.
Singapore-based EDBI, SoftBank Group, LINE Corporation, NAVER Corporation and Hong Kong-based AMTD Group were involved in the Series C investment.