Screenverse Secures $10.5M Funding From VCs To Enhance DOOH Tech, Grow Team

April 30, 2024 by Dave Haynes

New York-based Screenverse, which describes itself as a monetization and ad management partner for DOOH media owners, has secured a $10.5 million investment led by the VC firm Volition Capital.

The money will help fuel Screenverse’s growth, with a key focus enhancing the technology suite to better serve media owners and meet current and future programmatic demands. The dollars will also help grow sales and “supply partnership” headcounts.

I dunno what supply partnership means, but as always, ad media people speak a different kind of English.

“The breadth and diversity of Screenverse’s network add tremendous value to advertisers seeking to reach unique audiences programmatically,” says Larry Cheng, Managing Partner at Volition Capital.

Screenverse has been around since 2020, founded by well-known industry veterans David Weinfeld and Adam Malone. Weinfeld came from Vistar Media, and Malone spent many years at DOmedia.

“We founded Screenverse with the vision of democratizing access to programmatic budgets for DOOH networks of all shapes and sizes, even those whose core business isn’t advertising,” says Weinfeld, CEO of Screenverse. “Our mission is to simplify and optimize the advertising process for media owners and advertisers alike, ultimately driving value for all stakeholders in the ecosystem.”

From PR:

In addition to helping media owners maximize their success in the programmatic channel, Screenverse is building the largest network of digital screens in the physical world for advertisers. Brands and advertisers can tap into Screenverse’s extensive inventory to reach consumers in highly impactful environments, from a nationwide array of independent billboards to street-level displays in busy urban areas and even inside top retailers such as Walmart, Kroger, and 7-Eleven.

With a network spanning nearly 90,000 screens across partners like TouchTunes, Pursuant Health, theBulletin, Trailhead Media, and Smartify, Screenverse offers advertisers unparalleled access to diverse audience segments, making it a one-stop-shop for programmatic digital out-of-home spend.

My simpleton (all I’ve got) description of Screenverse is digital OOH sales rep shop – doing the sales work for companies that have screen netwworks that either don’t have direct sales people, or maybe are only partially in the media business.

So in the same way that some solutions providers are the outsourced digital signage operating units for companies like QSR chains, Screenverse is doing the sales and related work for companies that happen to have a screen network as part of much larger businesses. A great example would be TouchTunes, which has 1,000s of digital jukeboxes in bars, with screens on them that support booked advertising. Screenverse now runs and sells the ad display side of the business, so TouchTunes can focus on what it is super-good at – music content curation, licensing and overall ops.

Good to see money coming into the DOOH/digital signage sector that isn’t just about acquisition.

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