Inuvo Raises $2.7m to Expand Targeting Platform

In the US, Inuvo - which provides online ad services backed by data and analytics - has sold $2.7m of its stock and warrants, with the funds earmarked for further development of its platform and web properties.

Inuvo specializes in helping advertisers drive targeted transactions and acquire customers on a pay-per-click, pay-per-lead, or pay-per-sale basis through its various marketing channels.

The firm analyzes the data produced by its advertisers and publishers to understand which products convert and which web sites attract viewers, in order to understand response rates across all its web properties. It also uses this data to help advertisers target their ads based on behavioral information.

'Inuvo is extremely pleased that we were able to complete this entire capital raise through the support of our existing investors and insiders,' states Richard Howe, President and CEO. 'We intend to use the proceeds from this and subsequent financings to further advance the development of our daily deals web property Kowabunga; our e-commerce/credit platform, launching initially with Kidzadu; and our proprietary loyalty exchange platform BargainMatch.'

In addition to the sale of its stock and warrants, the firm plans to issue a further 1.35 million shares of its common stock, in addition to five year warrants.

Web site: www.inuvo.com .