Phunware Inc (NASDAQ:PHUN) announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for the company’s US patent application 17/362,765 titled Method and Apparatus for Geofence Event Predictions.
Phunware said the patent will significantly enhance the capabilities of its location-based services (LBS) and enable brands to deliver personalized, context-aware experiences to their users.
“The allowance of this patent highlights our ongoing commitment to innovation and our dedication to providing proprietary mobile solutions to help any brand contextually engage any audience,” Phunware chief operating officer Randall Crowder said in a statement.
“We believe this new technology will enable our clients to offer more personalized and engaging experiences that drive revenue, loyalty and satisfaction,” Crowder added.
Phunware noted the patent covers a method for predicting geofence events by retrieving non-contemporaneous geofence predictor data of a mobile device, including past and future geographic data.
The company added that by analyzing this data, along with geofence data of the mobile device, the system develops a future geofence event prediction, including a latitude, longitude, time and confidence level for the prediction.
As well, Phunware stated that the technology allows businesses to better understand their users' behavior patterns and preferences, ultimately improving the overall user experience.
By detecting patterns in past geofence events and incorporating future engagement opportunities, Phunware's geofence event prediction technology enables businesses to deliver highly targeted, timely, and relevant content to users based on their anticipated location and activities, according to the company.
Phunware is an award-winning, fully integrated enterprise cloud platform for mobile that provides companies with the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale.
Contact Sean at sean@proactiveinvestors.com