Technology

AnyMind Group, a Singapore-based company that uses AI in online advertising, HR and marketing, has pulled in a strategic $13.4 million investment to go after growth in Japan and other Asian markets.

This Series B roundwas led by Line, the Japanese messaging app firm, andMirai Creation Fund, which is backed by Toyota among others. Previous backers JAFCO and Dream Incubator also took part.

The parties didn&t disclosure a valuation for the round, but a source with knowledge of the deal told TechCrunch that it values AnyMind at $200 million pre-money. AnyMind declined to comment.

AnyMind Group is a holding group formed this year to manage its initial venture AdAsia — which uses AI to offer ad solutions to publishers and advertisers — and its newer businesses TalentMind (HR) and CastingAsia, influencer marketing. AdAsia previously raised $12 million last year before it added a strategic investment from Japanese news app Gunosy three months later.

The business was founded inApril 2016 by Japanese duo CEOKosuke Sogo,the former managing director of Japan&sMicroAdin APAC, and COO Otohiko Kozutsumi, who had been with MicroAd Vietnam — and both men are ambitious with their plans to grow.

Indeed, 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 one year previous. In an interview with TechCrunch, Sogo said he expects revenue for this year to be more than double that of 2017. He added that Southeast Asia, where the firm first set its focus, accounts for the lionshare of revenue, with its 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 across Asia. It has some 330 staff, up from 90 just 18 months ago, and serves more than 1,000 clients across its three businesses.

AnyMind founders Kosuke Sogo (left) and Otohiko Koztusumi (right)

While it doesn&t appear to need the money, AnyMind said it is keen on the connections that this investment can bring. That will include working with Line — which is Japanlargest messaging app and popular across Southeast Asia —on digital advertising opportunities, and tapping into the Mirai fundportfolio companies to offer advertising and marketing programs.

&We have experienced great growth in the past 2.5 years, and are now looking to enter our next phase of progress — expanding market share in the geographies and industries we&re in. Aswe&ve been operating at a profit since January 2017, our focus for this round was to select investors that could take us to that next level,& Sogo, AnyMindCEO, said in a statement.

Sogo told TechCrunch that the business is pursuing similar strategic acquisitions where it sees mutual benefits. Those may be focused on additional markets in Asia beyond Japan. AnyMind is also looking to reach additional markets like India and the Middle East next year and also develop different software based on its AI tech, he added.

When TechCrunch first wrote about AnyMind, Sogo spoke of his plan to take the company public. That hasn&t changed and he is optimistic it can happen &around 2020,& with potential destinations likely to be Tokyo, New York or Hong Kong.

Note: The original version of this article was updated with additional quotes and information from aninterview, and a valuation from a source.

Last month, Instagram co-founders CEO Kevin Systrom and CTO Mike Krieger announced that they would be leaving Instagram and Facebook. All eyes are now on Instagram to figure out whatgoing to happen to the photo and video app. Thatwhy I&m excited to announce that Instagram Product Director Robby Stein is joining us at TechCrunch Disrupt Berlin.

Instagram is Facebooknext big bet. Facebookgrowth has slowed down, which puts even more pressure on Instagram. Compared to Facebook, Instagram is still a relatively young platform. More and more people are joining Instagram and stories are boosting engagement.

Facebook currently has 2.23 billion monthly users while Instagram has 1 billion users. Many people have an active account on both platforms. But does Instagram have what it takes to reach Facebookscale

When it comes to product, Instagram has relentlessly released new features over the past few years. Stories have become a creative playground, stars can share longer videos on IGTV and you can now start group video chats from the app.

Itimpressive to see that such a big platform keeps releasing radical changes that will affect over a billion users. Instagram has been moving incredibly fast. And itbeen key when it comes to fostering growth.

Stein will tell us more about Instagramproduct design strategy and whatcoming up. Italways interesting to hear the perspective of an insider to analyze product decisions and discuss them.

Before joining Instagram, he was the co-founder and CEO of Stamped, which was acquired by Yahoo back in 2012. Stein started his career at Google. In a short period of time, he managed to work for Google, Facebook and Yahoo, and he also founded his own startup. Quite an impressive resume.

And if you want to hear what it feels like to work for Instagram at a pivotal moment, you should come to Disrupt Berlin. The conference will take place on November 29-30 and you can buy your ticket right now.

In addition to fireside chats and panels, like this one, new startups will participate in the Startup Battlefield Europe to win the highly coveted Battlefield cup.

Robby Stein

Product Director, Instagram

Robby Stein is Product Director at Instagram, where he leads the consumer product team for sharing, which includes Stories, Feed, Live and Direct Messaging. Previously he was the Co-Founder and CEO of Stamped, which was acquired by Yahoo in 2012. At Yahoo, Robby led mobile video products focused around recommended content. He started his career at Google, where he worked to bring new features to market for Gmail and Ad Exchange. He has been recognized on the Forbes 30 under 30 and graduated summa cum laude from Northwestern University.

Welcome to TheIndianSubcontinent's latest OnePlus launch live blog. It's the big day for the OnePlus 6T to be unveiled at a special event in New York where we expect to hear all about the latest flagship phone from the Chinese smartphone brand.

The truth is, we know almost everything there is to know about the phone already. Consistent leaks and