Adthena, an AI-driven search intelligence provider, received US$5M in growth capital financing from CIBC Innovation Banking.
The growth capital will be used to support the company’s international expansion and provide added fuel for its technology investment plans.
The power of AI cannot be overlooked in today’s world. It is used in luxury watches like TAG Heuer Carrera and even in our day-to-day smartphones, not to mention the complex software used in enterprises for crucial decision-making processes.
But the chief reason behind Adthena receiving this financial boost is because its AI-powered intelligent search solutions deliver a detailed view of every user’s market dynamics without having any competitor limitations. The organization’s technology allows marketers to acquire customers using their paid search landscape about their competitors in the industry.
Its patented technology known as ‘Whole Market View’ offers actionable data and insights, but that is just the beginning. The team of highly skilled experts of this organization aids consumers in many different tasks like campaign optimization, brand protection, and strategic advantage.
The director of CIBC Innovation Banking, Caroline Tkatschow said that they are quite glad to partner with a top-tier management team. She further added that Adthena has created a benchmark in the industry giving rise to an AI-powered tool that helps its customers by getting them market intelligence daily.
The CEO of Adthena, Ian O’Rourke said that about 90% of business CMOs strongly believe the fact that with the aid of search engine-based marketing they can formulate more strategic decisions.
And another 60% of CMOs think that this AI-based search engine will actually help them in earning a competitive edge over others who do not employ this tool in their business. He further elaborated on the fact that using CIBC’s Innovation Banking now they would be efficient in offering actual AI-driven insights to further impress customers and in a way expand their international client list.
A little about CIBC Innovation Banking
CIBC Innovation Banking aims to deliver strategic solutions in the form of cash management and funding to North American companies at every stage of their business cycle, starting from the basic start-up to IPO and more. Actually, CIBC Innovation Banking is a child brand of CIBC Bank USA. Right now, it is concerned about offering services following a collaborative approach that improves both CIBC’s commercial banking and capital market businesses across Canada and the US. CIBC has set up its offices and branches across multiple locations like Chicago, Denver, Atlanta, Austin, Toronto, Vancouver, etc.
A little about Adthena
Adthena was founded in the year 2012 and today it is one of the world’s most competitive intelligence platforms for paid search advertising. Reports say that this company processes about 10 Terabytes of new data while indexing 200 million keywords in about 15 languages every single day! Adthena’s AI-driven solutions help marketers target the customers they want to reach, thereby fulfilling their business objectives. As of now, Adthena operates in about 184 different business genres with more than 250 clients across the globe.
The company has raised US$18m and is backed by Updata Partners, a technology focused growth equity fund.