Taiwan’s Appier Banks $80M for its AI-based marketing technology

Appier provides AI marketing
https://www.flickr.com/photos/148274438@N08/

Artificial intelligence has become quite popular in the enterprise software world. Recently, VTEX, an e-commerce startup raised $140M. Today a company that builds AI-powered marketing tools has announced a new funding round. The company, Appier, is a Taipei-based startup that provides artificial intelligence to retailers to enhance customer engagement and improves the overall conversions on their sites. Today, Appier has banked $80 million.   

The funding comes from a Series D round. Famous investors in the round include HOPU-Arm Innovation Fund, Temasek’s Pavillion Capital, JAFCO Investment, UMC Capital, and TGVest Capital. Until today, the company has raised around $162 million with previous investors, like Sequoia, Line, Softbank, and Alibaba. The company hasn’t disclosed its current valuation but says that it has been growing since the Series C round. Now, Appier has over 1,000 customers.   

Marketing technology is the area of the software that marketing people use to launch and handle their marketing campaigns. Sometimes, it is under the shadow of adtech; however, the truth is that it is a $121 billion business. Moreover, it is continuously growing as companies are incorporating AI and data science to perform the work, which was previously left for human psychology and hunches.  

The U.S. and U.K. account for half of the spending. It leaves an opening for other markets, like the Asia Pacific; the customer base there is developing. Moreover, the startups that are focusing on the business are less, which leads to less competition for businesses.  

This open opportunity was what led to the formation of Appier in Asia. The company’s CEO, Chih-Han Yu, studied computer science in graduate school at Stanford. After that, he went to Harvard to obtain a Ph.D. degree, where he looked at how to use machine learning to make better orthotics systems. The leap from orthotics to sales conversions seems like a big one. However, it isn’t an unusual path for AI scientists. Moreover, other AI startup founders have done this too. Yu ultimately decided to move back to Asia and founded the company along with Joe Su and Winnie Lee.  

Yu said in a statement, “Things have been evolving rapidly in Asia, and it seemed a good place to start.” The headquarters of the company is in Taiwan, with offices in Singapore and Japan. Moreover, investors are from all across the world.   

Appier isn’t the only company that builds AI-tools to help the marketing world. Datorama is another AI-powering marketing platform, which Salesforce acquired for $800 million last year. Bloomreach is another company that uses data to get relevant customers for the brand, whose market valuation is $530 million. Moreover, IBM’s Watson is another platform that helps marketing campaigns.   

Yu noted that some investors in the round have connections with Hong Kong. However, there aren’t any tensions concerning the current political situation.   

Appier’s main product is a cross-platform advertising engine called CrossX that covers app installations. However, it also provides deep learning and helps brands to get new customers for their products. Although this is the company’s most popular product, Appier has introduced other services to build on the concept of customer information and utilizing customer data in effective ways. The company has also made acquired Emotion Intelligence and QGraph to expand its overall services.  

According to Yu, the company will use the current funding for further expansion in the region. It is operational in 12 countries and works with several local and global brands to improve its skills. The famous customers include Audi, Estee Lauder, and the supermarket chain Carrefour.  

Appier's Customer Audi
https://www.flickr.com/photos/31271722@N03/

DC Cheng, the Chairman of TGVest Capital, said in a statement, “Appier has started a trend for enterprises leveraging data to make the right decisions. Due to its unique use of AI technology, Appier has been an industry leader from the start. We are happy and excited to collaborate with the company. We believe that Appier will continue to grow as a sustainable technology company and do wonders in the marketing world.” 

 

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