Fobi AI (TSX-V:FOBI, OTCQB:FOBIF) Inc, which provides real-time data analytics through artificial intelligence (AI), revealed that the company’s subsidiary PulseIR, has signed a new $120,000 deal with software provider Turnium Technology Group Inc.
The Turnium deal is the third PulseIR deal in the last 10 days since its commercial launch, and signals “significant momentum” for Fobi’s data-driven IR platform, said the Vancouver-based data intelligence company.
Turnium develops software-only technology that powers software-defined wide area networks (SD-WAN) and profits for service providers across the globe.
Turnium’s one-year contract with PulseIR will generate $120,000 in revenue. Fobi said the revenue will be recognized in line with IFRS policies over the 12 months of the contract.
Fobi’s wholly owned subsidiary PulseIR is a platform as a service (PaaS). The company’s latest deal with Turnium scales Fobi’s IR solutions to a new industry and adds another customer to PulseIR’s growing client base. Since its commercial launch in January 2023, Fobi has also signed PulseIR deals with PanGenomic Health Inc and Empower Clinics.
According to the company, the new contract will help generate increased demand from public issuers who want to deliver personalized, automated, and data-driven mobile IR solutions to their shareholders.
In a statement, Fobi founder CEO Rob Anson said: “The world is transforming, communication strategies are becoming data focused and real-time mobile engagement strategies are rapidly shifting from a nice to have to a 100% must have.”
“This deal today with Turnium represents our third contract since our official PulseIR commercial launch just a short 10 days ago. This deal clearly validates not just the need for our data-driven mobile engagement platform but in a matter of days we have gained a great deal of momentum and traction.”
Meanwhile, Turnium CEO Derek Spratt said that as they prepared to go public, they wanted to have more visibility into their IR activities and know their investors and how to engage with them.
“In particular, we wanted a better understanding of the ROI of our marketing activities and how that connects to the lifetime value of our investors. PulseIR gives us that, which is why it was so easy for us to choose them as our partner in strengthening our IR activities,” said Spratt.
Fobi AI (TSX-V:FOBI, OTCQB:FOBIF) is a data intelligence company that helps its clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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