Outdoor advertising software company AdQuick raised a $6 million Series A to expand its sales, marketing and engineering teams.
The round was announced Feb. 13 and led by Initialized Capital, the San Francisco-based venture capital firm led by Managing Partner (and Reddit Co-Founder) Alexis Ohanian.
AdQuick’s platform is an online marketplace that helps out-of-home advertisers purchase outdoor advertising and measure their ad performance. Founded in 2016, the company reports it has raised $9.4 million to date.
“People can no longer sleep on out of home (advertising) now that people realize the (return on investment) is competitive or better than many overtaxed digital marketing channels,” Ohanian said in a statement.
“Adquick has finally brought the marketplace online and they’ve done it (with) the strategy and buying-power of an agency with the efficiency of a tech company,” he added.
New investors Shrug Capital, based in San Francisco, and Irish media advertising firm MediaLink joined the round.
AdQuick recently partnered with Canadian digital out-of-home marketing company Broadsign to combine AdQuick’s technology with Broadsign’s existing platform. The partnership was finalized in October 2019 and gave AdQuick a foothold in the Canadian market including access to Broadsign’s existing network of publishers and digital billboards.
“This funding allows us to ramp up our team to meet the demand we are seeing, and continue our mission of building the plumbing and operating system” of the AdQuick platform, Chief Executive Matt O’Connor said in a statement.
Tech reporter Samson Amore can be reached at [email protected] or (323) 556-8335. Follow him on Twitter @samsonamore.
