Vistar Media Secures $30M Series B Investment from Lamar Advertising Company

Rhea-AI Summary

Vistar Media has secured a $30M Series B funding round from Lamar Advertising Company (LAMR), emphasizing the need for technological growth in the out-of-home (OOH) advertising sector. The investment aims to enhance Vistar's product innovation, international expansion, and financial stability. Lamar will obtain a minority stake and a board seat, reflecting a strong partnership that has evolved over eight years. Vistar’s technology powers major digital signage networks, providing critical tools for optimizing revenue through its sophisticated software platforms.

Positive

• Secured $30M Series B funding from Lamar Advertising Company.
• Funds will bolster product innovation and international expansion.
• Lamar gains a minority stake and board seat, strengthening collaboration.

Negative

• None.

Vistar Media, the leading global provider of programmatic technology for digital out-of-home, today announced a Series B funding round of $30M from Lamar Advertising Company (Nasdaq: LAMR).

The investment reflects Lamar and Vistar’s belief that technology will be the driving factor behind an accelerated growth rate for the out-of-home (OOH) industry at large. With the adoption of programmatic now widespread, Vistar is focused on helping digital signage networks transition beyond automation to true revenue management, while enabling buyers to leverage data to drive all media decisions and prove ROI through accurate measurement toward all KPIs.

“We are thrilled to have this vote of confidence from one of the most successful and respected companies in out-of-home, and to have the means to double-down on what Vistar is known for: innovation that drives substantive results,” said Michael Provenzano, CEO and Co-Founder of Vistar Media.

The investment by Lamar builds on its eight-year partnership with Vistar, during which Lamar’s close collaboration with Vistar helped successfully develop Lamar’s programmatic channel. According to the terms of the deal, Lamar will gain a minority equity stake in Vistar and a seat on Vistar’s Board of Directors. Vistar will continue to operate as an independent technology partner to buyers and sellers across the global OOH ecosystem.

“Programmatic technology and continued innovation in digital signage software will fuel success for the entire out-of-home industry, and Vistar has a proven track record of building both technology and relationships that deliver value to the full ecosystem of buyers and media owners,” said Sean Reilly, CEO of Lamar Advertising. “By providing capital to a clear leader in the space, Lamar is investing in the future of our industry and the next evolution of our compelling media channel.”

Vistar plans to use the funding to fuel product innovation, accelerate international expansion and strengthen the balance sheet.

Vistar’s software powers some of the world’s most advanced digital signage networks, including Coinstar, GSTV, Octopus, Pursuant Health, Redbox, Topgolf, Vibenomics, Volta and Zoom Media. Through Vistar’s device and content management software, Cortex, and the Vistar ad server, these networks control all on-screen experiences, monitor and troubleshoot network operations.

Vistar’s full suite of tools allow digital signage networks to optimize yield across all direct and programmatic revenue streams. The Vistar supply-side platform (SSP) provides access to all leading sources of programmatic OOH demand, including omnichannel demand-side platforms (DSPs) such as Verizon Media, MediaMath, Amobee and Adelphic and exclusive connection to the Vistar DSP.

The Vistar DSP is the trusted platform for programmatic and digital teams at the world’s largest agencies and a long-term complementary partner to OOH groups. Focused on delivering the most sophisticated forecasting and data-driven planning tools, Vistar has forged partnerships with leading experts such as Adsquare, Dynata, Environics Analytics, Foursquare, IBM Watson Advertising, IHS Automotive, IRI, LiveRamp, MFour and many more.

About Vistar Media

Vistar Media is the leading global provider of programmatic technology for out-of-home, bringing enterprise-grade software that was purpose-built for the unique requirements of digital signage. Vistar provides a global demand-side platform (DSP) for buyers to activate data-driven programmatic campaigns and a supply-side platform (SSP) to connect signage operators to digital revenue. Vistar also powers some of the world’s most advanced signage networks with device & content management software (Cortex) and ad serving technology. Vistar was founded in 2012 and is headquartered in New York, NY. For more information, visit www.vistarmedia.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210712005451/en/

FAQ

What amount did Lamar Advertising invest in Vistar Media?

Lamar Advertising invested $30M in Vistar Media through a Series B funding round.

What will Vistar Media use the funding for?

Vistar plans to use the funding to drive product innovation, accelerate international expansion, and strengthen its balance sheet.

What equity stake does Lamar gain in Vistar Media?

Lamar will gain a minority equity stake in Vistar Media as part of the funding deal.

How has Lamar and Vistar's relationship evolved?

Lamar and Vistar have collaborated for eight years, successfully developing Lamar's programmatic channel.

What is Vistar Media known for?

Vistar Media is known for providing programmatic technology and software solutions for digital out-of-home advertising.