Near Acquires Location Intelligence Platform Teemo
Strategic acquisition to bolster Near's privacy capabilities, and further the company's expansion into the European market
Nov 19, 2020, 10:30 ET
SAN FRANCISCO, Nov. 19, 2020 /PRNewswire/ -- Near, the world's largest source of intelligence on people and places, today announced it is acquiring Paris-based location intelligence platform, Teemo. The strategic acquisition of Teemo will enable Near to offer more advanced data intelligence products, including audience curation and data-driven marketing capabilities, to customers in the European market. The move will also help Near firmly establish its position to service global companies headquartered out of Paris.
"The acquisition of Teemo is a prime example of our commitment to a privacy-centric approach in providing data intelligence on human mobility," said Anil Mathews, Founder & CEO, Near. "Teemo enables Near to immediately deliver our joint capabilities into the European market. The Teemo team has a long history of bringing innovative solutions to global brands such as IKEA, Ford, Decathlon, Intermarché and many others. We look forward to having them continue their work as a part of the Near team."
This acquisition reiterates Near's stance on privacy led-design as Teemo is the first company officially declared GDPR-compliant by the French Data Protection Officer. The CEO of Teemo, Benoit Grouchko, will join Near's executive team as its Chief Privacy Officer.
Joining forces will enable Near and Teemo to leverage their combined insights into real-world consumer behavior to provide brands around the world the intelligence they need to accelerate their digital transformation initiatives. Despite Covid-19, Near and Teemo have observed significant growth in 2020 and are accelerating.
"We are very excited to join the Near family with whom we share a common DNA of technology and performance," said Benoit Grouchko, Founder & CEO, Teemo. "This will allow us to be stronger and to grow even faster, beyond the French market."
Near is the world's largest source of intelligence on people and places, processing data from over 1.6 billion monthly users across 44 countries. The Near Platform powers data-driven marketing and enrichment offerings through a suite of SaaS products. The users of the platform can leverage audience, spatial, retail, among other data in a privacy-led environment. Founded in 2012, Near is headquartered in Singapore with offices in San Francisco, New York, London, Bangalore, Tokyo, and Sydney. Today, marquee brands such as News Corp and Mastercard work with Near to provide enhanced customer experiences. Near is backed by leading investors including Sequoia Capital, JP Morgan Private Equity Group, Cisco Investments, Telstra Ventures, and Greater Pacific Capital. Visit www.near.co to find out more.
Teemo was co-founded in 2014 in Paris. Teemo is a leading location intelligence platform generating store traffic. Teemo generates outstanding performance by combining location data, algorithms and engaging creatives, in a privacy-friendly environment. https://teemo.co/
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