The recent infusion of additional capital allows the Company to acquire, license and internally develop the technology needed to transform its AI-driven SWARM solution into a fully functioning, AI-driven software as a service (SaaS) platform
SAN ANTONIO, April 20, 2021 (GLOBE NEWSWIRE) -- CloudCommerce, Inc. (CLWD), a technology driven provider of digital advertising solutions, today announced that its recent infusion of additional capital allows the Company to acquire, license and internally develop the technology needed to transform its AI-driven SWARM solution into a fully functioning, AI-driven software as a service (SaaS) platform.
“We are rapidly transforming our business from a traditional advertising agency services provider into a true technology driven company,” said Andrew Van Noy, CloudCommerce CEO. “While we are extremely pleased that our SWARM solution continues to deliver advertising results beyond client expectations, our dream was always to develop SWARM into a fully functioning software as a service (SaaS) platform. Our recent infusion of additional capital allows us to begin the process of turning that dream into a reality.”
Successful B2B companies like Salesforce, Snowflake and Square use the SaaS model to sell software to other businesses as a service. These cloud-based services help organizations run more efficiently or automate internal functions. Many businesses rely on these services to optimize their marketing, sales, customer service, and operations efforts. Once established in the marketplace, SaaS companies usually benefit from exceptionally high gross profit margins.
“Our AI-driven SWARM solution struck a raw nerve in the advertising industry,” Mr. Van Noy continued. “Today, more than half of all advertising dollars spent in the U.S. are spent on digital forms of advertising. As a result, successful campaigns must be data driven. However, waste and inefficiency still persist. To reduce advertising costs by as much as 50%, we use SWARM to build custom audiences for highly targeted digital marketing campaigns.”
Mr. Van Noy concluded,” Our plan is to use the agency services side of our business to continue offering our SWARM solution to major brands, while at the same time developing SWARM into an AI-driven SaaS platform. We are aggressively searching for acquisitions, licensing partners and talent that can help us achieve this goal. Our pending corporate name change to AiAdvertising, Inc., will help make our intentions clear.”
For more information about AiAdvertising, please visit the Company’s new website at www.AiAdvertising.com.
CloudCommerce is a technology driven 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. For more information about the Company, please visit www.CloudCommerce.com.
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