NEW YORK — Access 360 Media, an out-of-home media network reaching young adults, has raised $8 million in a Series B round funding led by Mission Ventures and joined by Bessemer Venture Partners. As a leader in the digital out-of-home, or DOOH, industry, Access 360 Media will apply the new capital toward accelerating company growth to match the developing out-of-home industry’s substantial rate of expansion and opportunity.
Access 360 Media is a multi-platform media network that connects young adult consumers with blue-chip brand advertisers. Through partnerships with more than 20 prominent young adult retail chains, Access 360 Media creates fully integrated out-of-home marketing programs that combine in-store, online and mobile media elements. The A3M network allows advertisers and retailers to convey brand messages and create experiences, forming sustained relationships with more than 170 million media-savvy consumers in 14,000 retail locations each month.
“As audiences become increasingly fragmented and more difficult to reach via traditional media, such as television, advertisers are turning to innovative platforms to reach their customers, such as the network Access 360 Media has created,” said David Ryan, managing partner at Mission Ventures.
“Traditional media is becoming more difficult to measure, and the current economic climate has marketers seeking even higher levels of accountability,” said Lon Otremba, CEO of Access 360 Media. “These factors create a significant opportunity for the out-of-home industry, particularly with OVAB announcing their audience metrics guidelines tomorrow. We’re very much looking forward to putting this capital to work during this period of rapid industry growth and achieving the next round of Access 360 Media’s success.”
“By 2010, today’s young adults will be the largest demographic in terms of size and spending, and shopping is their number-one activity,” said Roman Tsunder, founder and president of Access 360 Media. “We have built a great platform to reach this highly desirable audience nearest to the point-of-sale, which creates value for all of our clients — consumers, retailers and advertisers.”