Analytics driving today’s online advertising are largely based on browsing behavior, which is not necessarily a predictor of purchase intent. Segmint’s software analyzes actual purchase transactions, allowing it to offer online advertisers more specifically targeted and relevant consumer profile groups. While competitive analytics services can produce tens or hundreds of target groups based on browsing behavior, Segmint’s software can produce thousands.
The company initially received seed funding from the Innovation Fund, founded by the Lorain Community College Foundation, and used the capital to establish operations. JumpStart’s investment is expected to help Segmint rapidly advance business development efforts related to its expanding product offering.
This investment represents JumpStart’s 81st investment in its 55th company.
Segmint Inc. is a technology company committed to facilitating online delivery of pertinent and compelling offers to customers of financial institutions through identification of customer spending patterns and Key Lifestyle Indicators (KLIs). Segmint’s software enables anonymous spend analysis from a wide variety of data sources. Segmint intends to become a leader in transaction-based marketing, with the distinct advantage of being able to deliver the right message to the right customer at the right time, a Segmint of One.