Beeyond Media raises $10m seed funding round to drive growth across US and LATAM
Beeyond Media, a programmatic Digital Out of Home (DOOH) advertising demand-side platform (DSP), announced the close of $10 million seed round led by Ricardo Uribe of RAU Capital and Beeyond Media board member. The latest funding will be used to scale the Beeyond business in the United States and Latin America and help Beeyond Media expand their vast connected inventory in other markets throughout 2024. This latest round of funding brings total dollars raised to $12.5 million.
Beeyond Media is offering a solution that enhances campaign reach with their unique approach to DOOH, that merges programmatic technology with a layer of curated services to maximize the results and return on ad spend of large campaigns for brands. The technology company excels in delivering high-quality out of home (OOH) advertising across a wide range of digital screens for maximum advertising impact. This seed investment will play a vital role in financing ongoing campaigns and enabling the business to grow its team in the US. In 2022 Beeyond Media's sales increased 12X and the business projects a 10X increase from the previous year.
Alejandro Donzis, CEO and Co-founder, Beeyond Media: "As the DOOH industry grows and we continue to expand our business, the ongoing support from our investors is increasingly valuable. The opportunity in digital advertising is massive and Beeyond is demonstrating to the industry that there is a superior way to manage DOOH campaigns, and our growing partnerships and client base serve as proof of our success. Together, we are advancing towards a future where we redefine excellence in the industry."
Ricardo Uribe, Investor, RAU Capital and Board Member, Beeyond Media:"Beeyond Media has exceeded expectations over the last year. We believe the company is strategically positioned to stand out as a provider of a highly valuable global solution in an industry growing at double-digit rates year over year."
Beeyond Media has an inventory of over 600,000 devices and screens including billboards, street furniture, airport media and more spanning across 17 countries. The company is on a mission to become the premier global DOOH company in a growing market. Most recently, the company announced a strategic partnership with Place Exchange, a supply-side platform (SSP) for programmatic OOH, extending Beeyond Media's extensive DOOH inventory. Earlier this year, the business launched its audience segmentation tool, Beeyond TrueReach, which sources data and information from leading providers, arming clients with the insights to execute highly effective and targeted DOOH campaigns.