The New York-based provider of online ad serving and campaign optimization software says the capital injection will be used to develop its patent-pending Poindexter Progressive Optimization Engine (POE) and to attack untapped segments in the online advertising market.
The POE is a statistical modeling product built on ad serving technology called SmartServe. It uses clustering and predictive modeling to leverage traditional direct marketing principles – for example, to determine the most responsive audience for an advertiser and most appropriate message for each member of that audience.
Poindexter is attacking a market estimated at $8.4 billion and growing at a yearly rate of over 25% by Jupiter Research.
The funding was led by Blue Chip Venture Company, WallerSutton, Hudson Ventures and Echelon Ventures.
Poindexter was founded in 1999 and has an impressive roster of clients including American Express, AOL, Continental Airlines and Travelocity.
Incidentally, the company’s name bears no relation or links to the retired US navy admiral John Poindexter who as national security advisor under president Ronald Reagan was convicted of conspiracy and destroying evidence in the Iran Contra scandal.
Rather it is derived from the cartoon strip character Felix the Cat; Poindexter was Felix’s genius friend.
