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AdNear hires Ken Parnham in a bid to expand to Europe

kenparnahamAdNear, which provides location intelligence data to brands and advertisers, has appointed Ken Parnham as its general manager for Europe. In his new role, Parnham will be responsible for offering AdNear’s services to European advertisers and will operate out of the company’s London office. Note that according to Parnham’s LinkedIn profile, it looks like he joined the company in March this year.

Prior to AdNear Parnham was the managing director of EMEA region at TRUSTe since October 2013. Before this, he held the same position at OpenX for over two years from October 2011 to 2013, where he was responsible for sales and business operators across the EMEA region. Pranham had previously joined OpenX as the commercial director of EMEA region in May 2011.

Other than this, he was also the managing director of AdTech UK for two years from 2009 to 2011 and had worked as the director of ad operations at Adlink group for five years since 2004. He also worked as the group head of ad-technology at Freeserve for four years and was the adops manager at 247 for two years.

AdNear’s advertising platform utilizes real-time geo-location data, which negates the need for GPS or network operator assistance for location awareness, and is compatible for delivering ads to both smartphones and feature phones. AdNear also provides advertisers with user behaviour data to help them reach the relevant audience. The company claims to have reached over 530 million devices till date, and claims to be adding about 1.2 million new anonymous device users to its database everyday. Some of the clients AdNear works with, include P&G,, Audi, Unilever, BMW, Adidas, Ford, Samsung, and IKEA among others.

Expansion post funding: In October last year, AdNear raised $19 million in a Series B round of funding from Telstra Ventures and Global Brain and with participation from existing investors Sequoia Capital and Canaan Partners. While the company did not clarify then what it would use the funding for, it looks like it will use it for expansion to the European market. Interestingly, at the time of the fundraise AdNear CEO Anil Mathews did hint at the possibility of launching new products in the coming months.

AdNear had previously raised $6.3 million (about Rs 35 crore) in its Series A round of funding from Sequoia Capital and Canaan Partners, in November 2012. Rediff.com had also acquired a minority stake in AdNear (then known as Imere Technologies) back in November 2009, which it later sold for $1.14 million in May 2013.

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