Start-up of the week: Location intelligence platform Near
Technology start-ups are growing and Retail Week is highlighting some of the best for retailers. This week Near is in the spotlight.
Near is a mobile data platform that gives retailers insight into consumer behavior and location to create targeted marketing messages. European general manager Ken Parnham explains more.
Founded: November 2012
Investment: £16. 4 million from Sequoia Capital, JPM Private Equity Group, Telstra Ventures and Global Brian
Retail Partners: Ikea, Woolworths, Nike, Levis, 7 Eleven
Founder: Anil Mathews
What it does
Near is a mobile data platform that provides retailers with real-time information on consumer behaviour. The platform leverages a shopper’s location and interest to create data driven marketing messages for retailers, which are then sent to shoppers’ mobiles.
Near is a mobile data platform that gives retailers insight into consumer behavior and location to create targeted marketing messages
“Near’s proprietary technology enables it to compile accurate user information without GPS or operator dependence,” says the start-up’s European general manager Ken Parnham.
“Our platform profiles mobile users by analysing location data points over time, coupled with user behaviour and context.”
The start-up provides retailers with insight into the statistics of who is shopping in their store to create customer demographics.
What problem it solves
Near combines various mobile data points, such as whereabouts, content consumption behaviour and points of interest, to generate real-time consumer insights.
Retailers can use these insights to intelligently target their consumers at the most opportune moment and drive conversions.
Data provided by Near also allows retailers to measure attribution to mobile and other media and then use this insight to drive broader business decisions.
“Consumers want to be able to shop anywhere, at any time” says Mathews.
“From the moment a customer expresses interest in a product, to purchase, retailers need to ensure they remain present and relevant throughout the path to purchase and Near’s technology helps them do just that.”
As published in Retail Week.