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It’s official! We’re thrilled to announce that Screenverse has secured a $10.5 million investment led by Boston-based growth equity firm Volition Capital. This funding round signifies a crucial moment for our company as we strive to advance the programmatic future of digital-out-of-home (DOOH) advertising.
“Volition Capital’s investment is a testament to the strength of our vision and the potential we see in the DOOH advertising space,” said Adam Malone, Co-Founder of Screenverse. “With this support, we are well-positioned to continue our mission of driving innovation and unlocking new opportunities in programmatic DOOH.”
The History Behind Screenverse
As we celebrate this milestone, we’d like to shed some light on our journey to getting here today. Screenverse was founded in April of 2020 (exactly 4 years ago!) with the vision of revolutionizing and democratizing access to programmatic budgets for DOOH networks of all shapes and sizes. Within months, we quickly forged partnerships with leading retail media networks such as Walmart, Kroger, and others. In 2021, we expanded our network to include nine partners and welcomed our first engineering hires.
Moving into 2022, our focus intensified on scaling operations. Investments in people, processes, and technology were pivotal as we recognized substantial sales growth. 2023 was the year we secured tier 1 partnerships with both Vistar and Place Exchange and expanded our network to include 14 unique partnerships. Today we’re proud to share that Screenverse is a trusted partner at the forefront of digital advertising in the physical world. We have over 90,000 digital screens in every market in the continental U.S. and a team of 22 talented individuals across tech, marketing, sales, media operations, and supply partnerships. This milestone wouldn’t be possible today without the continued trust and support of our valued partners.
“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,” says David Weinfeld, CEO of Screenverse.
The Screenverse and Volition Capital Partnership
Since 2010, Volition Capital has invested in and/or provided sub-advisory advice to more than 40 companies across the Software/SaaS, tech-enabled services, Internet applications, and consumer sectors. In January 2023, Volition closed its fifth and largest fund with over $675 million in aggregate capital commitments.
The $10.5 investment will fuel our continued growth and innovation with a key focus on enhancing our proprietary technology suite to better service media owners and advertisers. Additionally, this investment will accelerate the expansion of our team, particularly in sales and supply partnership roles.
“The breadth and diversity of Screenverse’s network add tremendous value to advertisers seeking to reach unique audiences programmatically,” said Larry Cheng, Managing Partner at Volition Capital. “We are thrilled to lead this investment round and support Screenverse in its mission to drive value for media owners and advertisers alike.”
