The Company closes $10 million equity financing and is changing its corporate name to AiAdvertising, Inc. to better reflect its focus on using artificial intelligence (AI) to reduce the cost of advertising
CloudCommerce, Inc., a leading provider of digital advertising solutions, announced that it has raised $10 million of equity capital and is changing its corporate name to AiAdvertising, Inc., to better reflect the Company’s focus on using artificial intelligence (AI) to reduce the cost of advertising.
“With our increased focus on artificial intelligence, we believe that AiAdvertising is a more appropriate name for our public company,” said Andrew Van Noy, CEO of CloudCommerce. “Therefore, we plan to use the name of our recently launched artificial intelligence venture as our parent company name.”
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Mr. Van Noy continued, “Changing our corporate name also represents our commitment to developing SWARM, our flagship solution, into a cloud hosted software platform that will harness the power of artificial intelligence, machine learning, and predictive algorithms to eliminate the inefficiencies, waste and guesswork that is inherent and accepted in today’s data driven digital marketing campaigns.”
“Closing an equity round of $10 million allows us to increase the pace of our AI development and decrease the time to market. One cannot overestimate the importance of having access to capital at this stage of our development,” Mr. Van Noy concluded.
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CloudCommerce is a leading provider of digital advertising solutions. Our flagship solution, SWARM, analyzes a robust mix of audience data to help businesses find who to talk to, what to say to them, and how to market to them. We do this by applying advanced data science, behavioral science, artificial intelligence, and market research techniques to discover, develop and create custom audiences for highly targeted digital marketing campaigns.
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