Vistar Gets $30M Series B Funding From OOH Giant Lamar To Build Out Programmatic Product, Drive Expansion
July 12, 2021 by Dave Haynes
Lamar gains a minority equity stake in Vistar and a seat on the Board of Directors, but Vistar “will continue to operate as an independent technology partner to buyers and sellers across the global OOH ecosystem.”
The funding announcement says Lamar is building on its eight-year partnership with Vistar, “during which Lamar’s close collaboration with Vistar helped successfully develop Lamar’s programmatic channel.”
“We are thrilled to have this vote of confidence from one of the most successful and respected companies in out-of-home, and to have the means to double-down on what Vistar is known for: innovation that drives substantive results,” says Michael Provenzano, CEO and Co-Founder of Vistar Media.
“Programmatic technology and continued innovation in digital signage software will fuel success for the entire out-of-home industry, and Vistar has a proven track record of building both technology and relationships that deliver value to the full ecosystem of buyers and media owners,” says Sean Reilly, CEO of Lamar. “By providing capital to a clear leader in the space, Lamar is investing in the future of our industry and the next evolution of our compelling media channel.”
Says the PR:
Vistar plans to use the funding to fuel product innovation, accelerate international expansion and strengthen the balance sheet.
Vistar’s software powers some of the world’s most advanced digital signage networks, including Coinstar, GSTV, Octopus, Pursuant Health, Redbox, Topgolf, Vibenomics, Volta and Zoom Media. Through Vistar’s device and content management software, Cortex, and the Vistar ad server, these networks control all on-screen experiences, monitor and troubleshoot network operations.
Vistar’s full suite of tools allow digital signage networks to optimize yield across all direct and programmatic revenue streams. The Vistar supply-side platform (SSP) provides access to all leading sources of programmatic OOH demand, including omnichannel demand-side platforms (DSPs) such as Verizon Media, MediaMath, Amobee and Adelphic and exclusive connection to the Vistar DSP.
Provenzano has a lengthy blog post up about the funding and future plans.