The New York-based startup ADstruc — an online marketplace for outdoor advertising — closed a $1.1 million series a investment led by DFJ Gotham, with participation from RRE, Founder Collective, Jeff Clavier, David Cohen, Kal Vepuri, David Tisch and Social Leverage (Howard Lindzon) today.
The 26-year-old founder and chief executive of ADstruc, John Laramie, developed his auction and listing-based platform through TechStars in Colorado, but relocated and incorporated in New York this year.
According to ADstruc reports, media spending on outdoor advertising in 2009 reached $6 billion. The startup aims to make it easier for existing buyers to find and procure outdoor ad inventory, and to increase the number of buyers of and ad campaigns using outdoor advertising.
“We are going to make buying billboards as easy as buying AdWords on Google,” said Laramie.
The company is working with ad agencies and outdoor advertising businesses like Torrey Group, Circle Graphics and Dentsu to get started. It has not yet sold inventory, but Laramie is eyeing companies known for their outdoor creative like: movie production houses, Verizon, Disney and Coca Cola, Laramie said.
He also half-joked that “ADstruc is trying to convince TechStars to do an outdoor campaign to raise awareness about their new, New York program!”
TechStars is the #1 startup accelerator in the world. We’re very selective. Although thousands of companies apply each year, we only invest our money and time in about ten companies per program location. We have selection rates lower than the Ivy League, so you have to be among the best of the best to earn investment from TechStars. We offer five TechStars programs in top startup locations (Boston, Boulder, New York City, Seattle, & Cloud in San Antonio), on...