Vistar Media Secures $30M Series B Investment from Lamar Advertising Company
July 12 2021 - 9:30AM
Business Wire
Investment to fuel international expansion and
product development across DSP, SSP and SaaS business lines
Vistar Media, the leading global provider of programmatic
technology for digital out-of-home, today announced a Series B
funding round of $30M from Lamar Advertising Company (Nasdaq:
LAMR).
The investment reflects Lamar and Vistar’s belief that
technology will be the driving factor behind an accelerated growth
rate for the out-of-home (OOH) industry at large. With the adoption
of programmatic now widespread, Vistar is focused on helping
digital signage networks transition beyond automation to true
revenue management, while enabling buyers to leverage data to drive
all media decisions and prove ROI through accurate measurement
toward all KPIs.
“We are thrilled to have this vote of confidence from one of the
most successful and respected companies in out-of-home, and to have
the means to double-down on what Vistar is known for: innovation
that drives substantive results,” said Michael Provenzano, CEO and
Co-Founder of Vistar Media.
The investment by Lamar builds on its eight-year partnership
with Vistar, during which Lamar’s close collaboration with Vistar
helped successfully develop Lamar’s programmatic channel. According
to the terms of the deal, Lamar will gain a minority equity stake
in Vistar and a seat on Vistar’s Board of Directors. Vistar will
continue to operate as an independent technology partner to buyers
and sellers across the global OOH ecosystem.
“Programmatic technology and continued innovation in digital
signage software will fuel success for the entire out-of-home
industry, and Vistar has a proven track record of building both
technology and relationships that deliver value to the full
ecosystem of buyers and media owners,” said Sean Reilly, CEO of
Lamar Advertising. “By providing capital to a clear leader in the
space, Lamar is investing in the future of our industry and the
next evolution of our compelling media channel.”
Vistar plans to use the funding to fuel product innovation,
accelerate international expansion and strengthen the balance
sheet.
Vistar’s software powers some of the world’s most advanced
digital signage networks, including Coinstar, GSTV, Octopus,
Pursuant Health, Redbox, Topgolf, Vibenomics, Volta and Zoom Media.
Through Vistar’s device and content management software, Cortex,
and the Vistar ad server, these networks control all on-screen
experiences, monitor and troubleshoot network operations.
Vistar’s full suite of tools allow digital signage networks to
optimize yield across all direct and programmatic revenue streams.
The Vistar supply-side platform (SSP) provides access to all
leading sources of programmatic OOH demand, including omnichannel
demand-side platforms (DSPs) such as Verizon Media, The Trade Desk,
MediaMath, Amobee and Adelphic and exclusive connection to the
Vistar DSP.
The Vistar DSP is the trusted platform for programmatic and
digital teams at the world’s largest agencies and a long-term
complementary partner to OOH groups. Focused on delivering the most
sophisticated forecasting and data-driven planning tools, Vistar
has forged partnerships with leading experts such as Adsquare,
Dynata, Environics Analytics, Foursquare, IBM Watson Advertising,
IHS Automotive, IRI, LiveRamp, MFour and many more.
About Vistar Media
Vistar Media is the leading global provider of programmatic
technology for out-of-home, bringing enterprise-grade software that
was purpose-built for the unique requirements of digital signage.
Vistar provides a global demand-side platform (DSP) for buyers to
activate data-driven programmatic campaigns and a supply-side
platform (SSP) to connect signage operators to digital revenue.
Vistar also powers some of the world’s most advanced signage
networks with device & content management software (Cortex) and
ad serving technology. Vistar was founded in 2012 and is
headquartered in New York, NY. For more information, visit
www.vistarmedia.com.
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Bill Daddi bill@daddibrand.com
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