elevate DIGITAL has secured $1.5 million in venture funding from Partners Path Investments as part of the company’s round of Series A funding. elevate DIGITAL is a developer of street-level digital interactive technology.
elevate DIGITAL, a leading developer of street-level digital interactive technology, has secured $1.5 million in venture funding from Partners Path Investments as part of the company’s round of Series A funding.
elevate DIGITAL plans to use the funds to fuel the continued development of the company’s interactive technology offerings as well as continue its geographic expansion with deployments in the top 30 markets by the end of 2014.
Available through its interactive digital displays, elevate DIGITAL combines interactive software applications and connective advertising with social and mobile integration, enabling advertisers to achieve higher levels of engagement and enhance the customer experience. elevate has created strategic partnerships for placement in high-traffic areas, and developed applications that provide user data and metrics, allowing advertisers to easily measure campaign performance.
What makes elevate DIGITAL a game-changer is the ability to collect unique data and generate predictive analytics. The Chicago network currently generates thousands of active clicks, passive impressions and consumer profiles per month. The average display sees consumers interacting with its content for more than four hours a day.
“Our platform is disrupting traditional out-of-home advertising, enabling advertisers to activate their brands and connect with customers through a truly engaging medium,” said George Burciaga, founder and CEO of elevate DIGITAL. “With this funding, we will continue developing products and content that engage consumers, especially through mobile and social channels at street level.”
In May 2012, elevate DIGITAL announced an initial $2.7 million tranche of funding and plans to complete the Series A round before year end.
“Out-of-home advertising is the last major channel that has yet to be transformed by the power and flexibility of networking, the visual impact of video and the big data analytics afforded by social media. elevate DIGITAL empowers businesses, large and small, national and local, to reach and transact with people at or near the point of consumption, while also providing tangible benefits to municipalities, transportation authorities, malls, entertainment venues and stores,” said Jeff Bernstein, Chief Investment Officer of Partners Path Investments LLC. “elevate combines the best of what we look for in an investment for our clients: a seasoned board and management team; tremendous partnerships with global companies; a familiar yet superior business proposition for customer; and a franchise value that builds over time.”
Since its founding in 2011, elevate DIGITAL has deployed more than 70 screens across the city of Chicago and has plans to activate within Chicago’s airports. The company has also established partnerships with organizations such as Groupon, The Tribune Company and World Business Chicago, among others.
About elevate DIGITAL
elevate DIGITAL interactive displays enable advertisers to reach consumers through a leading edge, highly engaging interactive medium and provide consumers with free access to a broad range of information and services. elevate DIGITAL display units are designed for placement in both indoor and outdoor high-foot-traffic locations and are available in multiple sizes designed to meet the particular needs of each location.
About Path Partners Investments LLC
Partners Path Investments (“PPI”) LLC is a wealth management and advisory firm based in New York City with over $1 billion in assets. PPI invests across the capital spectrum, on behalf of a growing handful of families. They manage and advise on significant stakes in luxury brands, financial services companies, and media, sports, technology and entertainment properties, as well as real estate. In addition to their team, each of their clients helps to inform and curate the portfolio on behalf of their entire client base, drawing on decades of company and wealth building.