Access 360 Media, an out-of-home media network catering to young adults, announced Tuesday that it raised $8 million in a Series B round led by Mission Ventures and Bessemer Venture Partners. The company's executives said the funding will be used to accelerate the company's growth and capitalize on opportunities in the market.
Access 360 Media has carved out a significant niche by focusing its attention on young adults. The company has formed partnerships with major retailers worldwide and uses in-store, online, and mobile marketing campaigns to target an audience that amounts to 170 million people in 14,000 online and offline retail locations each month.
"Traditional media is becoming more difficult to measure and the current economic climate has marketers seeking even higher levels of accountability," said Lon Otremba, CEO of Access 360 Media. "These factors create a significant opportunity for the out-of-home industry. We're very much looking forward to putting this capital to work during this period of rapid industry growth and achieving the next round of Access 360 Media's success."
Access 360 Media is competing for the attention of a hot demographic. By targeting young adults, the company is capitalizing on one of the most coveted groups, but attracting those people isn't so easy. Realizing that, the company plans on using the funding to ensure that its focus is placed squarely on growth and attempting to become the de facto leader in the space.