Veridooh, a multi-award-winning adtech firm, has secured $5 million in Series A funding, which will be used to grow internationally as part of its aim to improve out-of-home (OOH) advertising transparency, automation, and intelligence.
EVP, a venture capital firm led by Dan Szekely, anchored the investment round. Szekely will join the Veridooh board of directors after the investment, alongside co-founders Mo Moubayed and Jeremy Yang.
Jelix Ventures, an Australian and New Zealand investment firm focused on globally scalable firms, as well as Aconex cofounders Leigh Jasper and Rob Phillpott’s funds Saniel and Gravel Road, participated in the oversubscribed funding round.
SmartCreativeTM, Veridooh’s flagship product, tracks, measures, and verifies the performance of digital OOH campaigns independently, enhancing transparency and buyer confidence in the sector.
Clients who utilize the Veridooh dashboard have complete visibility over their campaigns, with over 300 parameters such as location, plays, exposure duration, ad length, and share of time available for analysis and optimization.
SmartCreative technology does not require media owners to be integrated, therefore it can be utilized anywhere in the world.
Veridooh is opening the way for new levels of confidence and transparency in OOH advertising by introducing an independent data-based currency, which will unleash additional revenue for advertisers, media agencies, and media owners.
In a statement, Moubayed said buyer confidence can increase if one can remove any doubt about the delivery and performance of out-of-home advertising, while putting OOH advertising on a level, “if not better, playing field than other digital channels, such as online”.
“The 100% independent verification we provide for all industry stakeholders has consistently wielded great results for all involved,” Moubayed added.
This is Veridooh’s first round of funding, and it will be utilized to accelerate the company’s international expansion.
Szekely said Veridooh “is solving this challenge for the industry through its collaborative approach with all stakeholders”.
Szekely added that their investment is about scaling Veridooh’s technology globally, with the team perfectly positioned to be the dominant player in the market.