Digital Signage Insights: Venture Capital News in the Digital Signage Industry
This article originally was posted on April 24, 2008 at Digital Signage Insights.
By David Weinfeld
Adcentricity, a digital out-of-home media sales network, has raised $3 million in Series A Funding. The Toronto-based company offers advertising sales and media management services to a portfolio of over 70 digital signage networks. The Company’s model is very similar to that of network aggregator SeeSaw Networks.
With all of the success SeeSaw has seen in the last year - linking up with Ripple TV, BroadSign (a major digital signage software provider), and Locamoda (interactive mobile technology) - Adcentricity needs to make a significant push in the United States to maintain its relevancy.
Adcentricity’s founder, Rob Gorrie, is a passionate technology advocate and media professional within the digital signage industry. He and I have had some very good conversations about the direction and future of the industry. He is a thought leader and visionary whose ideas could have a major impact on the whole of the digital signage sector.
The Toronto-based company will use the funding to substantially increase its sales presence throughout North America, increase the depth of its network partnerships in its existing and new verticals, and invest in supporting research with partners and media / advertising Agencies.
“There are tremendous growth opportunities in Digital OOH and we are expanding strategically to appeal to the increased demand from Brands and Agencies for scalable media opportunities in place based and retail environments, while investing strongly in our dedicated Digital OOH media sales efforts,” said Rob Gorrie, president of ADCENTRICITY.
“We are working in a truly great industry, which provides for unprecedented ‘hyper targeting’ of audiences on a large scale across North America. In the year since we launched, we have made major progress attracting Network partners to our service, introduced a robust end-to-end media platform, and made great in-roads in servicing the planning and buying market at the agency and advertiser level. The extra resources provided by Propulsion Ventures will only increase these areas as key strengths of ADCENTRICITY.”
“Today, advertisers are enjoying amazing new media opportunities created by Digital Signage entrepreneurs from around North America,” said Benoit Hogue, Managing Partner at Propulsion Ventures. “ADCENTRICITY has created a growing and sustainable business to support these Network partners at the National Advertiser level. We are delighted to be participating to further increase their revenue opportunities.” (via Fox Business)
