IntelligenceBank has announced its acquisition of Red Marker. Through the acquisition, IntelligenceBank will offer brands a single platform to help ensure content across print, social, email, and digital channels is automatically branded and legally approved using Red Marker’s patent pending AI custom rules solution.
IntelligenceBank CEO Tessa Court said companies face fines in the hundreds of millions of dollars each year for inaccurate, misleading, and out-of-date advertising, product disclaimers, and websites.
“For large corporations, marketing compliance is a multi-million-dollar problem,” said Court. “Failure to comply with regulations results in businesses having to not only pay fines to the regulator but also compensation to affected customers. This is compounded with reputational brand damage”.
“With these two technologies coming together, we are in a unique position to provide one of the best brand and regulatory compliance solutions in the market across the content lifecycle. We have partnered with Red Marker for several years with shared customers already and we are looking forward to expanding the joint offering across our global customer base,” added Court.
The deal will see IntelligenceBank wholly acquire Red Marker’s technology stack, IP, and specialist team who are based in Sydney, the US, and the UK. While the financials of the acquisition are commercially confidential, the acquisition comes on the back of its 2021 strategic capital raise of US$37 million from US VC Five Elms Capital.
“We are thrilled to add Red Marker’s capabilities to IntelligenceBank’s leading suite of tools for brand-compliant marketing. The combination will enhance the companies’ missions to make brand management and compliance more efficient than ever,” said Joe Onofrio, partner at Five Elms Capital, the lead investor at IntelligenceBank.
“Both IntelligenceBank and Red Marker share a common vision to automate and scale marketing compliance across media types – which means marketing and legal teams can ensure quality and save time and money all at once. We are joining IntelligenceBank to accelerate our vision and we are looking forward to integrating Red Marker’s AI compliance technologies with such a great partner in the DAM and marketing operations space,” added Mark Wood, general manager at Red Marker.
