October 28, 2008
Digital Out-of-Home Media Network Access 360 Media Raises $8 Million in Venture Capital Funding Led By Mission Ventures
NEW YORK and VENICE BEACH, Calif., Oct. 28 /PRNewswire/ -- Access 360 Media (http://www.access360media.com/), the nation's largest 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 (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 the leading 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. "The scale of the network they've built, coupled with their ability to create integrated multi-platform programs, creates one-stop shopping for advertisers."
"Access 360 Media has a proven business model that is truly capital-efficient, and equally important, they offer a unique value to brand advertisers," said Christopher Farmer at Bessemer Venture Partners. "We have great confidence in this management team and their ability to generate significant results for clients and partners, which will contribute to a robust and profitable business for the long term."
"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."
About Access 360 Media
Access 360 Media is a premier multi-platform media network that connects to more than 173MM young adult (P12-34) consumers each month in the places and through the communication channels that matter most to them -- In-store, Online and Mobile. This multi-platform media network allows advertisers and retailers to fully integrate with young adult consumers by encouraging youth to engage and connect in the marketing message. Based in New York and Los Angeles and led by an experienced executive team, Access 360 Media has distinguished itself through many successful campaigns for and partnerships with Fortune 500 companies and leading retail chains -- including the likes of Macy's, Sony, Underground Station, Cingular, Motorola, Quiksilver, Wrigley's, Paramount Pictures and DreamWorks.
Media Inquiries: For Access 360 Media: The Morris + King Company Lane Buschel / Katie Smith-Adair (212) 561-7454 / (212) 561-7475 [email protected] / [email protected]
Access 360 Media
Web Site: http://www.access360media.com/