Inuvo has launched a Software-as-a-Service (SaaS) version of its IntentKey digital advertising tool.
IntentKey is a “programmatic media solution” that uses artificial intelligence (AI) to “extract consumer intent from engagement with digital content,” according to the company’s website. IntentKey processes more than 200,000 consumer content engagements per second, allowing clients to increase access to users.
Designed as an end-to-end managed service, the IntentKey was originally used by the Inuvo team to execute client projects. However, this approach limited the market reach of Intent Key
“There is no comparable commercially available technology or data product capable of matching the precision with which the IntentKey AI automatically adapts to the changing whims of in-market audiences. The IntentKey’s purpose was to reinvent the manner in which prospecting data is both manufactured and then used to discover online audiences. With this SaaS version of the platform, we extend the market for this product to companies who wanted the power of the technology, while still using their own resources to deliver campaigns,” Inuvo CEO Richard Howe said in a statement.
According to Amir Bakhshaie, the vice president of advertising technology and IntentKey products for Inuvo, the SaaS version of the product represents a market disruption of the third-party data marketplace industry, which he valued at $19 billion.
The Little Rock-based company recently closed a $6.25 million stock offering that is intended to provide working capital and general corporate funding. In the offering, Inuvo sold 5,681,817 shares of its common stockat a price of $1.10 per share.