I’m very excited to announce a new member of the DFJ Gotham portfolio – ADstruc, a platform that is poised to revolutionise the way that outdoor advertising is transacted. ADstruc makes purchasing outdoor inventory (billboards, wallscapes, ads on buses and beyond) easy by integrating all of the relevant information about viewership, availability and pricing in one place online.
We believe that the outdoor advertising industry is ripe for modernization. With an online platform buyers of inventory will no longer need to undergo the laborious process of identifying the right units and their availability through cycles of phone calls and emailing excel sheets back-and-forth, and sellers of inventory will have access to more buyers than ever before.
While $6 billion is currently spent on outdoor advertising annually, the complexity of the buying process has made it the last inventory added to the list and the first to get dropped when planning advertising campaigns. By making the purchase process easier we think more buyers will integrate outdoor into their purchase plans. Additionally, by creating an easy to use portal, ADstruc is poised to democratize access to outdoor inventory. While I doubt many small businesses or startups had considered buying a billboard before, with an easy online platform, geo-targeting and surprisingly affordable prices, ADstruc will drive new dollars into the sales funnel for inventory holders. (Through the fundraising process, a number of investors have been surprised by the low price of billboards – now that they are easy to purchase we might see a few investors promoting their twitter handles around town…)
The company is led by John Laramie a newcomer to the NY tech scene that you’ll want to know if you don’t already. He’s a great example of a whiz kid founder who has rapidly been embraced by industry veterans and is quickly making a name for himself. He has already been discovered by Entrepreneur Magazine and I suspect his exploits will be the focus of much media attention. We are really excited to work with John and his co-founders Josh, Chris & Sam. They’re a dangerous team.
We were joined in this investment by a phenomenal syndicate of investors, including: RRE, Founder Collective, Jeff Clavier (SoftTechVC), David Cohen (founder of TechStars), Howard Lindzon (Stocktwits), David Tisch (The Box Group / TechStars NY) and Kal Vepuri (Trisiras Group – NY angel investor extraordinaire).
This article originally appeared at Get Venture and is republished here with permission.
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