Outdoor advertising software company AdQuick Inc. 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 media advertising firm MediaLink joined the round.
AdQuick recently teamed with Canadian digital out-of-home marketing company Broadsign International. The partnership was finalized in October and gave AdQuick a foothold in the Canadian market including access to Broadsign’s existing network of publishers and digital billboards.
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