AdQuick this week announced the close of a $6million series-A funding round, bringing total funding to $9.4M. AdQuick is an Out of Home (OOH) advertising software company founded in 2016 and headquartered in Los Angeles.
According to AdQuick, the $6million will be used to increase the sales, invest on the marketing and engineering teams, and develop advanced analytics and programmatic capabilities for OOH.
“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 for OOH. We want to create a tighter knit ecosystem so that anyone can easily launch an OOH campaign, with the analytics to boot to grow the entire industry,” said Matt O’Connor, CEO and Co-founder, AdQuick.
“We’ve already reduced the OOH purchasing cycle by 90% and there is huge room for growth in the OOH industry. In 2019, 30-35% of OOH inventory was left unsold in the U.S. – not from a lack of demand, but a lack of analytics and a software bridge between suppliers and buyers meaning that the price of OOH campaigns was often based on guesswork,” Matt O’Connor added.
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