Tritium Partners has made an investment in New York City-based Project X Media, an out-of-home media agency. No financial terms were disclosed.
October 8, 2019, New York, NY — Project X Media, Inc. (“Project X”), the leading technology-driven Out-of-Home (OOH) media agency, announced the completion of a growth investment with Tritium Partners. The investment will support the company’s strategy of building and expanding its team and technology solutions as well as exploring strategic acquisitions to continue to meet the growing needs of OOH marketers.
“We chose Tritium because of their experience and track record of helping to grow and scale companies like ours,” said John Laramie, co-founder and CEO of Project X. “We looked for a capital partner who understood our unique positioning in the Out-of-Home market and had the strategic skillset to help us navigate investments in our team and technology as well as strategic acquisitions. Together, we see a tremendous opportunity to continue to scale Project X and provide best-in-class Out-of-Home solutions for marketers. We are thrilled to be partnering with the Tritium team and look forward to our future together.”
Project X, which was founded in 2010, provides data-driven OOH planning, buying and campaign management solutions to direct advertisers and agencies. Through their unique, internally developed SaaS platform and integrations with OOH media owners and data partners, Project X delivers to marketers a seamless, efficient, and tailored media buying and planning experience.
“It is clear to us that the Project X team has built a highly-differentiated technology platform that uniquely positions them to address the diverse and growing needs of marketers in the Out-of-Home advertising market,” said James Maxfield, Principal of Tritium Partners. “We are excited to partner and invest in their growth as we too see tremendous opportunity to expand the reach of their distinctive solutions in the market.”
“Out-of-Home advertising is one of the few growing media categories, but its fragmented nature makes planning and buying notoriously difficult for marketers. Project X’s technology-enabled platform seamlessly tackles that complexity, positioning the company at the forefront of the industry,” added David Lack, Co-Founder and Managing Partner of Tritium. “We are excited to bring our strategic, operational and M&A experience to the company and help the Project X team build on the exciting momentum they currently have in the market.”
Financial terms of the transaction were not disclosed.
About Project X
Based in New York, NY, Project X is the leading technology-driven Out-of-Home media agency. It partners with agencies and brands, providing them access to every format of OOH inventory (digital and traditional) across the US. The company’s combination of technology and data-enabled solutions provides marketers with greater transparency and speed in planning and executing their OOH media campaigns while helping guide them through the entire OOH advertising process — from audience-based planning, to production, proof of posting and more — providing a seamless and efficient experience. For more information, please visit our website at www.pjxmedia.com.
About Tritium Partners
Founded in 2013, Tritium is a private equity firm focused on companies with exceptional growth potential. For over 17 years, both at Tritium and prior vehicles, Tritium’s founders have deployed over $850 million of equity capital while partnering with talented founders and executives to build market-leading companies. Tritium’s approach emphasizes creating long-term value through strategic growth initiatives and acquisitions, with a focus on internet and information services, supply chain and logistics, and financial and business services.