Display Technology

Tech firms pump $1M into startup to improve OOH industry

Provided

July 12, 2021

Startup OneScreen.ai, has secured $1 million in pre-seed funding, led by an investment from TechFarms Capital, a Florida-based fund investing in tech-enabled ventures, according to a company press release. Founded by former HubSpot, Google and Wayfair executives and alumni, OneScreen.ai plans to offer a streamlined, connected OOH market network to locate, buy, deploy and measure OOH advertising campaigns.

"OneScreen.ai has all of the elements we look for in a startup, not the least of which is an experienced team with domain expertise addressing a large market opportunity," Steve Millaway, Managing Director of TechFarms Capital, said in the release. "Sam and his team have identified a huge dilemma plaguing out-of-home advertising, and they are uniquely qualified to solve the problem in an industry ripe for innovation."

"I wasn't surprised to find out-of-home advertising was broken; I was surprised to discover that it's still growing anyways. In fact, it's the only offline ad medium that's still growing," OneScreen.ai CEO Sam Mallikarjunan said in the release. "While TV, radio and print advertising have all been dying, OOH has doubled in the past 20 years. Imagine what the industry could become if it were operating efficiently."

94% percent of OOH inventory is bought and sold manually, according to the release. Investors believe Onescreen.ai could help modernize the industry.

"In more than 40 years in the out-of-home advertising space, I've seen and been involved in tremendous change," Bobby Switzer, OOH advertising industry veteran and former VP of Operations of Lamar Advertising, said in the release. "Any limitations to reaching out-of-home's full potential can be traced to market fragmentation and manual processes. Innovators like OneScreen.ai who are creating a much-needed, all-in-one platform hold great promise for the out-of-home advertising industry to reach its full potential."