Complete List of All AI Companies Under $2 Billion Market Cap

39. Phunware, Inc. (NASDAQ:PHUN)

Market Capitalization: $111.175 Million

Number of Hedge Fund Holders: N/A

Phunware, Inc. (NASDAQ:PHUN) is a software company that specializes in mobile app solutions with integrated AI capabilities. It provides businesses with tools to create, manage, and optimize custom mobile applications, digital advertising, analytics, and location-based services. Phunware aims to improve mobile engagement by offering scalable and personalized app experiences. The company is focused on expanding its platform to drive the adoption of its AI-powered technologies, monetize its intellectual property, and reintroduce its digital asset ecosystem for both current and new market participants.

Phunware (NASDAQ:PHUN) announced it signed a term sheet, alongside other parties, to acquire a controlling stake in MyCanvass, LLC, which is primarily owned by Campaign Nucleus, a SaaS platform company. The acquisition, valued at $1.02 million, will be paid through a combination of cash and Phunware stock.

Phunware and Campaign Nucleus plan for MyCanvass to be the foundation of a strategic partnership aimed at developing AI-powered canvassing tools and management systems for political and advocacy campaigns. This collaboration will focus on promoting transparency, accountability, and grassroots empowerment. Stephen Chen, CEO, said:

“We are very excited to add the innovative MyCanvass technology platform to our portfolio as we explore solutions that align our technology with both companies shared missions to be true to our core values. Our collaboration will also aim to reduce inefficiencies, enhance campaign and advocacy effectiveness, and enable real-time, personalized voter outreach and engagement through AI and modular solutions.”