Permuto, a startup that develops an intent-based ad-serving technology, has raised $10 million in funding from Onset Ventures, Rembrandt Venture Partners, Reid Hoffman, Jeff Clavier and others. This brings Permuto's total funding to $16 million. As part of the announcement, Permuto is rebranding itself as Buysight.
Buysight's ad-serving technology captures the intent of what shoppers are looking for on search engines, shopping engines and more and then serves them highly targeted advertisements while they are browsing the web. And Buysight promises to deliver these intent-based ads in realtime.
For example, if you are searching for a particular type of shoe on a search engine, you could be served with an ad for the brand of shoes or a similar shoe on a publisher site that has partnered with Buysight.
Buysight purchases the index of consumer intent search data from search engines and partners with retailers to serve intent-driven ads on publisher sites. The startup says that its network reaches 65 million people monthly and includes hundreds of advertisers, and thousands of publishers.
As co-founder Shaukat Shamim tells me, Buysight is about turning data into insight for retailers. For publishers, Buysight will serve highly targeted ads to visitors, promising a better experience for any website visitor.