Near Acquires Teemo to Strengthen European Data Intelligence Footprint
In a strategic move to expand its global data intelligence capabilities, Near has announced the acquisition of Paris-based location intelligence startup Teemo. This acquisition marks a significant step in Near’s westward expansion strategy, strengthening its presence in Europe’s competitive data market.
A Powerful Union of Data Intelligence Leaders
Near, headquartered in Singapore, processes behavioral data from 1.6 billion consumers monthly, bridging the gap between online and offline consumer activities. CEO Anil Mathews emphasized the company’s commitment to privacy, stating: “We’ve put privacy at the forefront since day one.”
Teemo brings unique advantages to the partnership:
- GDPR compliance leadership: First company certified by the French Data Protection Officer
- European market expertise: Strong foothold in Paris, home to numerous global brands
- Privacy-focused approach: Compliant data handling with European data storage
Strategic Benefits of the Acquisition
1. European Market Expansion
This acquisition provides Near with:
- Immediate access to European markets
- Established GDPR-compliant infrastructure
- Local expertise in the region’s regulatory landscape
2. Enhanced Privacy Capabilities
Teemo’s privacy-focused approach complements Near’s existing framework, particularly valuable under:
- Europe’s General Data Protection Regulation (GDPR)
- Growing global data privacy concerns
3. Talent Integration
Teemo’s team will join Near, with:
- Founder Benoit Grouchko becoming Near’s Chief Privacy Officer
- Entire workforce transitioning to Near
Future Growth Potential
Mathews hinted at potential future acquisitions to expand into other markets, following this successful European entry. While financial terms remain undisclosed, Teemo (formerly Databerries) has raised $17.9 million from notable investors including Index Ventures and Mosaic Ventures.
“Joining the Near family allows us to accelerate growth beyond France,” said Grouchko. “We share a common DNA of technology and performance.”
This acquisition positions Near as a stronger global player in consumer intelligence, combining Teemo’s European expertise with Near’s extensive data capabilities while maintaining rigorous privacy standards.
