DOmedia LLC has announced the close of Series A funding round totalling USD 3 million.
The round was led by Advantage Capital Partners (ACP). The round also included one of the first two investments from the Ohio Innovation Fund (OIF), whose founding members are The Ohio State University and Ohio University.
DOmedia, which operates out of Columbus, OH, will use the funds to extend its suite of OOH media buying software for advertising agencies of all sizes; develop new applications to serve the 1,700 advertising vendors that currently use DOmedia; and support the ramp up of DOmedia’s hiring initiatives within sales, marketing and technology.
DOmedia claims to have generated more than $3.7 billion in proposals for billboards, transit, alternative and other OOH needs and says that in 2015, U.S. advertising and PR agencies contracted over $400 million of media through DOmedia.
Christopher Harris, Senior Vice President at Advantage said
“DOmedia has a proven track record of success aggregating the demand and supply-sides of the media industry,” said Capital Partners. “DOmedia brings efficiency and transparency to out-of-home media buying, putting them at the forefront of innovation within this space. Our investment should give the company the tools to expand their customer acquisition strategy and further accelerate their growth.”
DOmedia CEO Ken Sahlin said “DOmedia is changing how billboards and other out of home advertising is bought and sold. Our platform is bringing the buyers and sellers together to collaborate easily and efficiently in developing OOH strategies, soliciting proposals, tracking execution and analyzing outcomes. Our platform cuts the time to develop and manage OOH campaigns from days to minutes”.
The firm has also been piloting a new suite of supply-side applications for media vendors, which was announced at #BigPic16 a few weeks ago.