Inuvo, the Little Rock-based marketing technology firm, reported $44.6 million in revenue for 2020.
In its fourth quarter financial report, Inuvo announced that it had pulled in $12.9 million for Q4. This sum, the company reported, was a 40 percent sequential increase in revenue.
Revenue for the company’s ValidClick division was $9.3 million in Q4, a 48.5 percent sequential increase. ValidClick is a digital advertising company providing two ad solutions: PartnerAds and PartnerLinks. PartnerAds creates custom search ad implementations that show Yahoo! Ads on approved websites and apps, while PartnerLinks provides contextual keyword-based ads for news and content sites.
Revenue for Inuvo’s IntentKey totaled $3.6 million in Q4 2020 and $10.4 million for the entire year. The yearly revenue represents a 22 percent increase year-over-year. IntentKey is a maching-learning technology that is designed to reach “high volumes of incremental in-market and relevant audiences that are hidden from typical marketing approaches,” according to Inuvo’s website.
Inuvo recently launched a Software-as-a-Service version of its IntentKey technology.
“We continued to build momentum throughout 2020 after the initial decline experienced in the second quarter resulting from COVID-19. While the impacts of COVID-19 remain present within our industry, we would expect ValidClick to be back to normal within 2021 and the IntentKey to continue growing,” Inuvo CEO Rich Howe said in a statement.
In late January 2021, Inuvo closed a $6.25 million stock offering, which is intended to provide the company with working capital and corporate funding. During the offering, the company 5,681,817 shares of its common stock at a price of $1.10 per share.
READ MORE: Inuvo Launches Software-as-a-Service Version of IntentKey Platform