News

RVue lands equity financing to the tune of $2.6 million

January 4, 2011

Fort Lauderdale, Fla.-based rVue Holdings Inc. today announced that the company has raised approximately $2.6 million in equity financing to continue the expansion of its rapidly-growing real-time ad platform.

The company said in the announcement that the funds will be utilized to fuel further investment in the company's rVue Demand-Side Platform technology, including new product development and the expansion of managed services.

According to the company, the rVue platform offers advertising agencies single-point buying access to digital out-of-home screens throughout the United States and Canada. In addition, rVue provides a comprehensive set of ad management capabilities for the execution and optimization of both real-time and directly negotiated media buys. DOOH industry insiders have estimated that by 2012, more than 20 percent of digital display advertising will be purchased via real-time online bidding, rVue said.

The investment was led by Robert Roche, an entrepreneur, attorney and private equity investor, along with Patrick O'Donnell, former CTO of UBS Investment Bank, private investor and entrepreneur, the company said.

Additionally, on Dec. 21, 2010, rVue's board of directors approved the appointment of Michael Mullarkey and Patrick O'Donnell to serve on the board, effective immediately. Mullarkey, a partner in ODK Capital Management and a founder of Workstream Inc., a SaaS provider of human resource capital management, and O'Donnell will serve as independent members of the board, joining chairman of the board and company CEO Jason Kates.