$18 million investment in OOH
Amadeus Capital Partners and Wellington Partners have invested US$18 million in a Series B round financing in EnQii Holding, a global leader in the management of digital out of home (DOOH) advertising and merchandising networks.
Advertising spend on out-of-home sites is currently some US$1.7 billion globally, with the digital segment, which is proven to drive sales faster than traditional advertising, growing at some 40 percent per annum.
EnQii CEO, Ajay Chowdhury, says, “We see fantastic growth opportunities in digital out-of-home advertising and are very happy to see this significant commitment from two of Europe’s leading VCs that will help us take full advantage of these opportunities. While we have had very strong organic growth over the last year, this level of investment and the quality of the investors gives us the additional capacity to be more aggressive in both opportunity development and in serving our customers’ needs. The roll-out of digital screens at places of interest has just begun, and EnQii has the capability, from our offices in New York, Toronto, London, Hong Kong and Shanghai, to manage this.”
Well, of course he would say that he sees fantastic growth in out of home but, to be fair that stat of US$1.7 billion is not a number to be scoffed at. Were constantly on the lookout for innovative creative in the international OOH space. Got any stunners?