The Venture Codex

Participated · Series B · Mar 2019

AnyMind offers a suite of products for brands and online operators, including conversational commerce AnyChat, e-commerce management AnyX, manufacturing AnyFactory and logistics AnyLogi. The company integrates with marketplaces such as Shopee, Rakuten, Lazada, Amazon and Shopify and supports more than 1,000 brands, 1,110+ publishers and 1,400+ creators. AnyMind operates 17 offices across 13 markets with over 1,000 employees and reports $174 million in revenue. It grew through aggressive acquisitions (POKKT, Moindy, Acqua Media, LYFT and ENGAWA) and has retained many acquired founders in leadership roles. Management says it plans to use the latest funding to make additional acquisitions in Japan and globally. AnyMind began as an internet advertising business (formerly AdAsia) and has expanded into HR and broader marketing services, plus a new creators network. The company is moving into outdoor advertising in Thailand via a joint venture with VGI and has acquired Thai YouTube media company Moindy. It recently launched CastingAsia Creators Network to complement its marketing and media units. AnyMind says it has been profitable since early 2017; reported 2017 revenue was $26M (up from $12.9M the prior year) and the CEO expected revenue for the current year to be more than double 2017. The business operates across 11 Asian markets, with 12 offices (including a product development center in Vietnam), about 330 staff and more than 1,000 clients across three businesses. The company also maintains a sizeable office in Bangkok as it pursues regional expansion. AnyMind Group is a Singapore-based holding group (formed this year) that applies AI across online advertising, marketing, influencer and HR products, including AdAsia, TalentMind and CastingAsia. AdAsia offers ad solutions to publishers and advertisers, TalentMind focuses on HR, and CastingAsia handles influencer marketing. The company has been profitable since early 2017 and reported $26 million in revenue for 2017, up from $12.9 million in 2016, and expected 2018 revenue to be more than double 2017. AnyMind operates in 11 Asian markets with 12 offices (including a product development center in Vietnam), roughly 330 staff and serves over 1,000 clients; Southeast Asia supplies the majority of revenue while its one-year Japan operation accounts for about 30 percent. The company plans to expand market share across Asia, pursue strategic acquisitions, enter new markets such as India and the Middle East next year, and build additional software based on its AI technology. Leadership has indicated an intention to pursue an IPO around 2020, with potential destinations including Tokyo, New York or Hong Kong.