OneScreen.AI, a startup that specialises in out-of-home (OOH) advertising and marketing, recently closed a $1 million pre-seed funding deal. The funding was led by HubSpot co-founders Brian Halligan and Dharmesh Shah, HubSpot CMO Kipp Bodnar, Wayfair’s alumni fund (Wayfund), Lola.com CEO Mike Volpe, BuySellAds.com CEO Todd Garland, and HappyNest CRO Jeanne Hopkins of Panama City Beach, Fla.-based company TechFarms Capital. Various OneScreen.ai customers have also become financial backers.
OOH advertising consists of gadgets such as connected TV (Connected TV refers to any device connected to the internet and provides viewers with online video or images). Connected TV is called `a subset of over-the-top (OTT), such as free applications and services, billboards, event sponsorships, and transportation advertising.
OneScreen is attempting to identify one of the most pressing concerns in the OOH advertising industry. The modern world of OOH leaves roughly half of the endeavour inventory underutilised, owing to the confusion and care required in getting the searching and selling portion of OOH ad networks appropriate. According to the data, 94 % of the stock traded on OOH Networks is done physically through fax machines and accounting pages.
Regardless of the obvious friction the industry continues to create in the knowledge of OneScreen.ai, “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. While TV, radio and print advertising have all been dying, OOH has doubled in the past 20 years,’ said CEO Sam Mallikarjunan.
OneScreen will most likely create a network similar to what Google and Facebook provide to their users online. “Sam and his team have identified a huge dilemma plaguing out-of-home advertising, and they are uniquely qualified to solve the problem in an industry ripe for innovation,” said Steve Millaway, managing director at TechFarms Capital.