The joint solution will help global marketing teams reduce time to market and avoid millions in regulatory fines by automating manual approval processes.
Melbourne & Los Angeles, California - 29 July 2024 - IntelligenceBank, a leading innovator in content compliance with its Digital Asset Management, Brand Portals and Marketing Operations platforms, today announced it has agreed to acquire Red Marker, a leading AI-powered SaaS solution that automates brand, legal and regulatory compliance reviews across marketing materials and websites.
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Tessa Court said companies face fines in the hundreds of millions of dollars each year for inaccurate, misleading and out-of-date advertising, product disclaimers and websites.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,” Court said. “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 solution 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.”
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.
Joe Onofrio, Partner at Five Elms Capital, the lead investor at IntelligenceBank, said: “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.”
Mark Wood, General Manager at Red Marker, also shared his enthusiasm for the partnership, “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.”
About IntelligenceBank
IntelligenceBank is a leading digital asset management, brand portal and marketing operations platform, bridging the gap between the digital content explosion and content approvals. Loved by customers in 55 countries, IntelligenceBank employs AI, and automation to ensure brands get to market quickly, maintain brand consistency and adhere to regulatory compliance. IntelligenceBank has offices in Australia, Canada and the US. For more information visit http://www.intelligencebank.com.
About Red Marker
Red Marker’s AI-powered platform transforms marketing compliance by automating risk detection for digital advertising and marketing content. Combining finely-tuned technology with deep knowledge of heavily regulated industries, Red Marker delivers efficient processes which drive compliant outcomes. Recognizing that compliance is not one-size-fits-all, each implementation is tailored to reflect the client’s policies and meet their business objectives. This approach provides a powerful, future-proof marketing compliance solution. For more information, visit: http://www.redmarker.ai.
About Five Elms Capital
Five Elms Capital is a global growth equity firm that invests in fast-growing B2B software businesses that users love. Five Elms provides capital and resources to help companies accelerate growth and further cement their role as industry leaders. Since the firm’s inception in 2007, Five Elms has focused almost exclusively on software investing, building an unmatched network and deep domain expertise. Today, with over $2.4 billion in assets under management and a global team of over 70 investment professionals, Five Elms has invested in more than 65 software platforms globally. For more information about Five Elms Capital, visit fiveelms.com