Content
Startup raises $4.5M for OOH platform
November 15, 2021
OneScreen.ai, a SaaS-enabled B2B marketplace provider for OOH advertising, has raised an additional $3 million in seed funding to create a media platform that brings together the fragmented OOH advertising landscape, according to a company press release.
The funding, $2.6 million from Asymmetric Capital Partners and $400,000 from Impellent Ventures, will be used to develop a streamlined, connected OOH market network, through one platform. The startup has raised $4.5 million as of Nov. 10.
"The fragmentation of the ad market, including static, digital, and programmatic is making it difficult for marketers to make good choices," Sam Mallikarjunan, co-founder and CEO of OneScreen.ai, said in the release. "Add to that, the process for finding and acquiring OOH advertising inventory in the growing $30 billion industry is ridiculously archaic. There has never been a directory of all OOH advertising inventory, never mind a centralized place for even available local billboards, who owns them, and where to buy. OneScreen.ai has seen great momentum, booking $1 million in revenue in Q3 and $1 million in October. This funding will support us in building the first all-in-one real-world open directory to connect brands and their ideal targeted audiences."
The all-in-one media platform aims to improve efficiency by providing access to all available billboards, transit signage, sports and event advertising, and connected TV. Through the platform, marketers can locate, buy, deploy, and measure OOH advertising campaigns in one centralized location. Former employees from Google, HubSpot, and Wayfair are creating the platform, according to the release.
A recent Harris poll reported a 45% increase in people noticing billboards, outdoor video screens, and other OOH media since pandemic shutdowns ended.
"As a former first-hand buyer of OOH inventory, I knew instantly when meeting Sam that OneScreen.ai was going to drive massive change in an industry badly needing a technology-based upgrade," Rob Biederman, managing partner at Asymmetric Capital Partners, said in the release. "With the increasing complexity of any targeted marketing and the perpetually rigged casino which is online paid customer acquisition, we believe the most data-driven marketers are focusing their attention on OOH. OneScreen.ai is creating the best buying experience."
In July, the company announced it closed $1 million in pre-seed funding led by TechFarms Capital.
