OneScreen, a SaaS ad tech startup company, tripled its revenue in 2021. The advertising business focuses on out-of-home (OOH) advertising.
Based in Boston, the out-of-home advertising startup business is also growing revenue. OneScreen doubled revenue every quarter in 2021 as well. The company has forty employees as of early February. Furthermore, the business hired Adam Reidel as head of people operations in January 2022 to guide the next phase of hiring and workforce growth. The company’s 2022 goals include helping 100 media operator business owners to make more money from their assets. The startup’s financial goal is to generate $100 million in transactions on its platform in 2022.
Out of Home Advertising
The out-of-home advertising market is also called outdoor advertising. The category covers everything from billboards, nearby roads, street furniture, airports, taxis, and cinemas. “The OOH industry is the only traditional ad medium that is growing, in fact doubling in the last 20 years, while it enables infinite creativity for brands,” said Sam Mallikarjunan, co-founder and CEO of OneScreen.ai.
The out-of-home advertising industry was estimated to be worth $23.3 billion by a Research and Markets report. The outdoor advertising businesses are projected to grow to $41.5 billion by 2030. To put that figure in context, Statista reports that there is $153 billion spent on US digital advertising in 2020. However, digital advertising is dominated by a handful of prominent business players such as Google, Meta (i.e., Facebook), and Amazon accounting for over 60% of US digital ad spending.
The OneScreen business strategy is based on the fact that the out-of-home advertising sector is fragmented. OneScreen estimates that 50% of out-of-home advertising inventory goes unsold. In addition, the startup business estimates that no company currently controls more than 10% of the total outdoor advertising market. As a result, it is relatively difficult for advertisers to find and buy inventory when desired.
Several business users have already achieved interesting results with OneScreen. Scratchpad, a sales software company, used OneScreen to launch billboard campaigns. Reprise, a sales and marketing software business, used OneScreen after landing its Series B funding to advertise in San Francisco, Boston, and New York. The business increased website visitors by 200% and increased conversions. Several consumer brands, including Uprising Foods and murder mystery game company Hunt A Killer, have also used OneScreen effectively.
OneScreen has raised a total of $4.5 million in funding from investors. The advertising business raised a $1.5 million pre-seed round in November 2020. TechFarms Capital, Castor Ventures, and Brian Halligan (co-founder and CEO of HubSpot) invested in the pre-seed round. In November 2021, the company raised a seed round with four investors: Techstars, Asymmetry Ventures, Impellent Ventures, and Techstars Minnesota Twins Accelerator.
A team leads the advertising startup company with significant expertise in technology and marketing. Sam Mallikarjunan, CEO and co-founder of the business, taught digital marketing at Harvard University and held several positions at HubSpot. Greg Wise, co-founder and chief customer officer, also held marketing positions at HubSpot and other roles. Bonnie Lieberman, SVP of Sales and New Business Development, leads OneScreen sales based on her experience at Dun & Bradstreet and Act-On Software.
Bruce Harpham is an author and marketing consultant based in Canada. His first book "Project Managers At Work" shared real-world success lessons from NASA, Google, and other organizations. His articles have been published in CIO.com, InfoWorld, Canadian Business, and other organizations. Visit BruceHarpham.com for articles, interviews with tech leaders, and updates on future books.