Online advertisement startup company OneScreen.ai announced it raised $1 million in pre-seed business funding, led by TechFarms Capital. Other business investors that took part in the funding round are HubSpot co-founders Brian Halligan and Dharmesh Shah, Wayfair's alumni fund Wayfund, Lola.com’s chief executive Mike Volpe, BuySellAds.com CEO Todd Garland, HubSpot CMO Kipp Bodnar, HappyNest CRO Jeanne Hopkins, etc.
Uniquely Positioned to Bridge a Much-needed Gap in Online Advertising
OneScreen.ai provides out-of-home (OOH) advertisement services, which include billboards, buses, and events. The startup company operates in a $30 billion market; however, half of the entire industry’s inventory goes unsold each month as a result of the outdated and labor-intensive trading process.
Founded by former HubSpot, Google, and Wayfair executives and alumni, the Boston-based startup is building tools to correct the inefficiencies plaguing the OOH advertising industry. Some of these include inventory search engines, a platform for media companies to operate efficiently, and a marketplace to manage ad campaigns.
The result is the first streamlined, connected OOH market network — a centralized space where marketers can locate, buy, deploy, and measure OOH advertising campaigns.
"I wasn't surprised to find out-of-home advertising was broken; I was surprised to discover that it's still growing anyways. In fact, it's the only offline ad medium that's still growing," said Sam Mallikarjunan, CEO of OneScreen.ai.
"While TV, radio and print advertising have all been dying, OOH has doubled in the past 20 years. Imagine what the industry could become if it were operating efficiently."
The Online advertisement sector has become more optimized and expensive over recent years, urging marketers to look for new ways to drive and scale traffic. OneScreen.ai utilizes online marketing and the scale of the real world to develop an OOH Market Network and position this business market to become the world’s most powerful marketing vehicle.
"OneScreen.ai has all of the elements we look for in a startup, not the least of which is an experienced team with domain expertise addressing a large market opportunity," said Steve Millaway, the managing director of TechFarms Capital.
According to Millaway, Mallikarjunan and his team are “uniquely” positioned and qualified for business success after identifying “a huge dilemma plaguing out-of-home advertising.”
The online advertisement startup company claims that 94% of OOH inventory is traded manually nowadays as the sector is still heavily dependent on manual spreadsheets, phones, the human workforce, and even fax machines.
Bobby Switzer, the OOH advertisement expert who has been in the industry for over 40 years, said he had seen a massive business sector change during that period. Switzer believes OneScreen.ai is a much-needed innovator in the OOH industry that could help it achieve its full potential.
The startup company’s long-term goal is to transform the real-world media business environment and connect content creators with their ideal audience through a universal screen.
Online advertisement startup company OneScreen.ai closed a $1 million in pre-seed business funding round, led by TechFarms Capital. The company’s mission is to build a first streamlined, connected out-of-home market network where marketers can locate, buy, deploy and measure OOH advertising campaigns.