Singapore-based AnyMind Group, an AI solutions provider for advertising and marketing, has raised $8 million in a Series B+ round to take its total Series B haul to $21.4 million.
Investors in the latest round include VGI Global Media Plc (VGI), Thailand’s leading offline-to-online solutions provider, and Tokyo Century Corporation, a Japanese financial services company. With this, the company has raised total funding of $35.9 million to date. Previous backers included LINE, Mirai Creation Fund and JAFCO Asia.
Along with the funding, AnyMind also announced that it has acquired a majority stake in Thailand’s multi-channel network Moindy Digital from TV Thunder Pcl for an undisclosed sum.
As part of the investment, AnyMind Group will also form a joint venture firm with VGI, named VGI AnyMind Technology Co Ltd, to integrate digital-out-of-home (DOOH) advertising technology to VGI’s out-of-home advertising spaces in Thailand.
“AnyMind Group’s AdAsia Digital Platform and its advertising technology will simultaneously be integrated into VGI’s digital inventories (worth 7 billion baht) and bridged with Rabbit’s data, allows us to offer a fully integrated solution through the sales & marketing funnel,” said VGI’s CEO Nelson Leung. Rabbit is a smart card that supports monthly pass usage for the Skytrain in Bangkok and also provides the country’s first e-money services.
The synergy with VGI will be similar to AdAsia’s pilot DOOH project with East Japan Railway in December last year that offers the solutions for serving advertising through digital billboards in train stations and measuring the effectiveness of advertisement through actual view rate and reaction.
“Our objective here is to build a DOOH advertising marketplace across Asia, with a greater aim to bring a future where advertising across all mediums is connected – ultimately providing the most relevant and personalized advertising to everyone, on any platform,” said AnyMind Group’s CEO and co-founder Kosuke Sogo.
Apart from the expansion of DOOH advertising, the proceeds from the Series B will also be used for potential strategic acquisitions in its focused industries which are advertising, influencer marketing and human resources, and acceleration of talent and product growth.
As part of the acquisition of the Thai multi-channel company, AnyMind Group will house the Moindy brand under a portfolio of its influencer marketing platform CastingAsia.
Launched in 2004, Moindy helps independent music labels and musicians monetise their music through digital platforms. After being acquired by the Thai listed television program producer TV Thunder, it has expanded into additional channel verticals including broadcast and celebrity.
“Moindy focuses on premium content management, TV shows, music labels, and celebrities while CastingAsia already has a KOL influencer platform and brand sponsorship network. Together we can support creators by optimizing and monetizing their contents,” Moindy’s managing director and founder Punsak Limvatanayingyong.
Moindy currently has over 500 YouTube and LINE TV channels with a reach of 30 million subscribers and 600 million monthly views. Meanwhile, CastingAsia will have a total count of more than 35,500 micro and macro influencers in 17 markets*, with a combined reach of 180,000,000 followers across Facebook, Instagram, YouTube, LINE and Twitter.