The Asia Oriented Marketing Company AnyMind Group has raised another $ 8 million in funding to close its Series B round and expand into new vertical markets.
The company announced a $ 13.4 million increase in November, but it has now expanded to $ 21.4 million thanks to an additional injection from VGI Global Media, a Thailand-based firm that specializes in outdoor media, and Tokyo Century, a financial services firm that has invested in grabbing among others. Japanese messaging app Line and Toyota-backed Mirai Creation Fund are among the original investors in the round, who valued the company at $ 200 million, though it’s unclear if that number has increased with this new tranche of investment. . The company has now raised close to $ 36 million to date.
AnyMind, formerly known as AdAsia, began with a focus on Internet advertising, but has since expanded to offer marketing and human resources services. There are also other vertical expansions after this capital. AnyMind is moving into outdoor advertising in Thailand, through a joint venture with VGI focused on covering commuter routes and public transportation, while, also in Thailand, it acquired YouTube media company Moindy. These two movements are likely to come with regional expansions beyond the line, according to AnyMind, which has a major office in the Thai capital of Bangkok.
Finally, AnyMind is also launching another new service: CastingAsia Creators Network, which is a network of influencers on social media to complement its marketing and advertising units.
Here’s more information about the company from our previous report on the previous Series B announcement:
AnyMind was founded in April 2016 by the CEO of the Japanese duo Kosuke Sogo, the former managing director of MicroAd Japan at APAC, and COO Otohiko Kozutsumi, who had been at MicroAd Vietnam, and both are ambitious with their plans to grow.
In fact, despite being less than three years old, AnyMind says it has been profitable since early 2017. It said total revenue for 2017 was $ 26 million, up from $ 12.9 million the year before. In an interview with TechCrunch, Sogo said that he expects revenue for this year to be more than double that of 2017. He added that Southeast Asia, where the firm first focused on, accounts for the largest share of revenue, with one year Japan Operation pulling the remaining 30 percent.
Today, the company has 12 offices, including a product development center in Vietnam, and its services are present in 11 markets in Asia. It has about 330 employees, an increase from 90 18 months ago, and serves more than 1,000 clients in its three businesses.