Adgile Media Group , the leading tech-enabled, out-of-home advertising company, announced its seed round funding of $5 million from some of the consumer brand category’s most influential players. Led by Brand Foundry Ventures, additional participants included prominent brand investor, Amity Supply; investment fund, Finn Capital Partners; venture capital firm, Consumer Ventures; D2C and growth expert, Nik Sharma; investor and entrepreneur, Hannah Bronfman; founder of D2C brand Everlane, Michael Preysman; venture capital firm, Niche Capital; Co-Founder at KBP Brands, Barry Dubin and Rothy’s executive, Chris Hull.
Adgile is reinventing out-of-home advertising by solving for physical-world attribution and converting last-mile delivery trucks into highly effective, metric-centric mobile billboards for brands nationwide. With just shy of 100,000 units of inventory under management across the nation’s top 50 markets, Adgile and its ecosystem of partners have achieved quick success capturing market share in an industry that is red-hot in the wake of iOS14.5’s impact on the advertising community.
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“The long-neglected OOH channel is finally being thrust into the digital age with Adgile,” said Max Flannery, co-founder and president of Adgile. “By reinventing the classic out-of-home approach, we’re providing brands with an advertising format that greatly exceeds the ROI of the traditional players in the industry.”
The funding will fuel momentum and growth at Adgile, founded in 2018 by Tom Shea and Max Flannery at the University of Chicago’s New Venture Challenge, as the company aims to bring precise, powerful data & attribution to the world of out-of-home advertising. Adgile will use the funding to increase the depth of the company’s geographic presence, broaden branding, advance the development of proprietary technology, and recruit qualified new hires across sales, data science & engineering functions.
“For the past two decades, brands chased – and then competed away – the ROI that existed in digital advertising,” said Tom Shea, co-founder and COO of Adgile. “Now we can track the effectiveness of OOH with statistical rigor. Our customers have been thrilled with the substantial reduction in customer acquisition cost that has resulted from their Adgile campaigns. To performance marketers, it’s clear that OOH needs to be a part of any modern-day performance marketing conversation.”
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Adgile’s leadership team includes senior executives with deep roots in advertising, tech, OOH, trucking, finance and marketing, including Adgile’s CMO, Marc S. Strachan, former CCO at Publicis-Sapient and Adgile’s CEO, Mitchell Gordon, former global head of Transportation Investment Banking at Salomon Smith Barney and CEO of Edition Logistics Management.
“Adgile has the right team in place to build the future of out-of-home advertising,” said Brian Spaly from Brand Foundry Ventures, who has joined the Board. “Adgile is taking the lead in combining the digital and physical worlds of advertising and we’re proud to partner with them.”