Loop Insights rebrands itself as Fobi AI as it transitions out of startup mode to become an enterprise player

Loop Insights Inc (CVE:MTRX) (OTCQB:RACMF) announced it is changing its name to Fobi AI Inc to focus on enterprise clients.

In a statement, the Vancouver-based data intelligence company said the purpose of the rebrand is to help the company align with its key product, the Fobi IoT platform, as it transitions out of a startup and into an “enterprise player,” according to the firm.

A new website, logo and messaging will launch along with the new name, and the company’s ticker symbol will change to ‘FOBI’ on the TSX Venture Exchange and ‘FOBIF’ on the OTCQB.

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CEO Rob Anson told investors that the company has experienced “exponential growth” from partnering with major players like Amazon Web Services, Oracle, NielsenIQ and Telus.

“With the company also completing two key strategic acquisitions this year, the need for a unified brand became quickly apparent and had to happen sooner than later,” Anson said in a statement. “We believe that Fobi is now well-positioned to become a recognizable enterprise leader in real-time data and digital wallet applications.”

Fobi said its messaging will focus on the platform’s ability to connect data across multiple sources and transform it to actionable insights in real time in an automated fashion.

Ian Cameron, vice president of marketing, called it a “great opportunity to drive deeper communications and messaging with our clients, partners and investors given our exceptional year of expansion in terms of new verticals, products, and personnel.”

“Our senior management team is remarkable and has positioned us to execute on the incredible opportunity that lies before us,” Cameron added. “This rebrand is a testament to our growth, the results we have already delivered, and what we have brewing in the pipeline.”

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Story by ProactiveInvestors