Artificial intelligence (AI) developer Appier (沛星互動科技) yesterday said it has secured US$23 million from major private equity firms, including OB Venture Management Ptd Ltd and Sequoia Capital, in yet another round of fundraising.
The company said it would use the new funding for further expansion in Asia, while ramping up its research and development for cross-screen AI technology.
“We now have more than 100 employees. We hope to double the number by the end of next year. We are recruiting AI scientists, system engineers and marketing experts,” Appier cofounder and chief executive officer Yu Chih-han (游直翰) told a press conference in Taipei.
Taipei-based Appier has raised US$30 million since its establishment in 2012 and its investors include JAFCO Asia, MediaTek Inc (聯發科) and TransLink Capital.
Appier’s revenue has grown sixfold since June last year, but the company has no plans for an initial public offering any time soon, Yu said.
Appier develops AI technology that teaches computers how to make decisions. One major revenue source involves online advertising different devices.
The firm plans to introduce new services for applications beyond online advertising in the next few months, Yu said, declining to reveal details, but adding that medicine and transportation are two potential growth sectors.
The company counts more than 500 global brands and agencies among its clients, including Shin Kong Mitsukoshi Department Store (新光三越百貨), international makeup brand Makeup For Ever and Zarora, the largest online fashion retailer in Southeastern Asia.
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