German DOOH Firm Gets $23.5M In New Financing To 6X Screen Network Across Three Countries
June 19, 2023 by Dave Haynes
If you have been involved in the digital signage and DOOH sectors for many years, you’ll have made or heard observations and predictions that all those posters out there in shop windows would one day go digital.
It didn’t happen as quickly as maybe expected because of capital costs and both brands and media planners who either didn’t get it or didn’t see it as optimal for their budgets.
But now it is – as evidenced by developments like this Berlin company getting the capital in place to roll out as many as 10,000 high-bright displays in shop windows in Germany, Austria and Switzerland.
German language content partner Invidis notes on its site that the startup HYGH secured a double-digit million amount from the British private equity fund Sparta Capital Management to grow its existing DOOH network by as much as six-fold through this expansion. HYGH has about 1,800 digital faces right now, including mall and street furniture displays, and in elevators.
The DOOH company HYGH announces the successful completion of a hybrid financing round of debt and equity of €21.5 (about $23.5m USD), led by UK-based multi-strategy investment manager, Sparta Capital Management. This funding round marks a significant milestone for HYGH, reflecting their scalable concept, advanced technology, and dedicated team.
“HYGH has the potential to become one of the global market leaders,” said Fritz Frey, co-founder and chairman of HYGH. “The strong growth of DOOH advertising and the opportunities it presents support our investor’s confidence in our company and in our vision.”
The capital from this financing round will fuel HYGH’s expansion, focusing on scaling existing networks in Germany, Austria, Switzerland (DACH region), and entering new European markets. The company can thereby continue the development of the last year with close to 100% YoY revenue growth trajectory to eight digits annual revenue. HYGH further aims to establish a presence in the 15 largest German cities within the next twelve months, while strengthening their technology leadership.
“DOOH is booming and has gained significant market share in the media mix. DOOH is the medium of the future and the way out of the advertising crisis. We are proud to have found a partner who shares our vision and supports us in our growth.” said Lauritz Elmshäuser, CEO of HYGH. “With fresh institutional capital, we are well-equipped to achieve our ambitious goals and set new standards in digital out-of-home marketing.”